In recent months ocean carriers have implemented ‘late cancellation and amendment fees’.
Late booking cancellations or amendments inhibit them from accepting bookings from other customers. On top an increase in administrative work, lost revenue opportunities and impact on vessel space and equipment management.
Conditions/timing when the cancellation fee is being applied varies, but can be applied in one of the following conditions : when a booking is cancelled, rolled or significant volume shifted to a later vessel, delivered too late to connect the booked vessel, or significant net volume reduction.
With the concentration of carriers into three main alliances as well as the recent round of consolidation in the industry, lines are now in a stronger position to penalize no-shows.
Elite is doing its utmost to protects its customers’ interests, but shippers are to keep this in mind when planning bookings in order to avoid unnecessary costs.