GCTL8.com (FocusAsia Media Ltd)


BEIJING, Mar 2 (FAM) – Eleven shipping companies will cut terminal handling costs in China, saving 3.5 billion yuan (US$509 million) a year for domestic trading companies, the National Development and Reform Commission said yesterday.

Global shipping giants such as Cosco Group, Maersk Line and Mediterranean Shipping Co have written to the NDRC seeking a reduction in costs after the commission “probed on the extra payments shipping companies charge cargo owners,” China’s top economic planner said.

Cosco has promised to cut the charge to 596 yuan per TEU (twenty-foot equivalent unit) from 717 yuan, while Maersk will lower it to 566 yuan per TEU from 681 yuan.