-- MARKET UPDATE ON SITUATION IN PHILIPPINES -- CONGESTION OF MANILA PORT
The situation in the Philippines continues to deteriorate, and so each carrier takes its own measures.
Where several shipping companies indicate not to take new orders on Manila until further notice, there are others, such as CMA, Maersk, Hyundai, ONE, which each take cargo under strict conditions.
For example, each order is subject to a congestion surcharge ranging from USD 1,000 to USD 1,400 and it must always be taken into account that cargo can still be unloaded in a nearby port if the situation worsens in the meantime.
They also state that en-route congestion levels can be reviewed and that any COD costs are also borne by the freight payer. Carrier ONE goes one step further and charges the congestion surcharge also for cargo already en-route to Manila.
Although we are receiving conflicting reports about the resolution of the congestion and the expectation in the short term, everything indicates that the problem will persist for some time to come.
In the meantime, we report that other ports, such as Cebu, Davaos and Batangas, continue to operate smoothly until further notice. However, it remains to be seen to what extent they will be able to relieve Manila in the medium term.
Should the local situation change for a short time, we will update you immediately.