CMA CGM aiming to reduce the number of late booking cancellations on the Europe to Indian sub-continent, Gulf and Red Sea trades with a cancellation fee.
Cancellation fee:
The French container line is introducing a $150 per TEU cancellation fee on all bookings cancelled or transferred within seven days or less of the vessel cut-off date on the trades. To be introduced from 1 June the cancellation fee will cover North Europe to the Red Sea, Middle East, India, Pakistan and Sri Lanka.
Large shortfalls blamed:
CMA CGM said that the cancellation fee was in response to large shortfalls in recent weeks due to late booking cancellations which prevented it from accepting bookings from other customers.
Need for booking reliability:
“Booking reliability will assist CMA CGM to efficiently allocate space and equipment in order to guarantee our customers’ needs and requirements,” the company said.
The cancellation fee will be invoiced to the booking party.
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Source: CMA CGM
