News
China's Ministry of Transport (MOT) has introduced a new regulation which requires all carriers engaged in international maritime transport to file the carrier tariff rates and customer negotiated rates with the Shanghai Shipping Exchange (SSE).
The rule was promulgated on October 15, 2013 and took effect on November 15. After a grace period of 30,days, it will be officially implemented from February 15, 2014.
According to carriers sources, Shanghai Shipping Exchange (SSE) has been appointed by the MOT to handle ocean freight filing (including freight rate and related ocean surcharges) from carriers in the designated format as consented by the MOT. The filed tariff rates will take effect 30 days after the date when such filing is accepted. In cases when the actual executed freight rates are inconsistent with the tariff rates, negotiated rates should be filed. The negotiated rates will be valid 24 hours after the filing with SSE.
Carriers are entitled to negotiate rates only with shippers and non-vessel-operating common carriers (NVOCC) duly registered with the MOT.
