To All Island Shippers,
The Time Charter for the charter of the “BORKUM” has just been re-negotiated for another 12 month period.
Unfortunately with shipping rates at an all time high, and demand for suitably sized ships out-stripping supply.
The owners of the “BORKUM” have made a substantial increase in daily hire rate.
The complexities with chartering a suitably sized ship to service the demands at Christmas Island, have left few options.
We canvassed the Department and CI Ports to see if a relaxation of rules could be achieved, and thus broaden the market for a larger size ship.
However these efforts did not work out and left us with no other options, but to re-charter the “BORKUM”.
As a result we will have to make a sizable increase in shipping rates to both Cocos and Christmas Islands.
In order to sustain the island service, we will have to impose an increase of A$1,980.00/TEU and A$65.00/Rt for break bulk on all island shipping.
These rates will become effect from BK2202 and apply to all containers/cargo shipped to and from the islands.
It is hoped that once global shipping stabilizes, we can see a reduction in Time Charter rates.
Please be aware that any reduction in Time Charter rates will see a decrease in shipping rates.