Welcome to our May 2023 Newsletter
Australia-UK Free Trade Agreement
While the Prime Minister was in London attending the King’s Coronation, it was announced that the Australia-UK Free Trade Agreement would take effect from the 31st May, which is only a few weeks away now.
This agreement has been in the works for several years and it’s great to see that its finally going to come into effect at the end of this month. This will effectively mean that most goods from the UK will be duty free when imported to Australia and tariffs will be removed on over 99% of goods exported to the UK.
The Australian-European Union Free Trade Agreement is still in progress with several details still to be resolved, but it’s hoped that this agreement could be in place by the end of 2023.
China Freight Rates
The seafreight rates from China are still at historically low levels with space and equipment being readily available on all services to Australia and New Zealand. But several of the carriers have just recently issued notices advising of rate increases of USD 250/20’ & USD 500/40’ effective from the 21st May.
Below are links to some of these notices that we’ve received for your information and not sure if these increases will come into effect or not and if they do how long they may apply before rates drop again
Breakbulk and vehicle imports are still being severely delayed due to these vessels being held up in port due to Biosecurity issues with many cars and trucks being found to be contaminated with plant and soil material. These issues are dramatically affecting the sailing schedules for these carriers, as these vessels are having to wait days or sometimes weeks at some ports before they can berth.
BMSB Season Finished for 2022/23
The goods news is that the Brown Marmorated Sting Bug (BMSB) season has come to an end, as treatment for this pest is not required for shipments that departed these affected areas after the 30th April. But it won’t be long before it all starts again with treatment being required for shipments that depart from the 1st September.