Weekly Update: Week 38: September 12th-16th
Cut in Fuel Surcharge: We are pleased to announce that the fall in oil prices means that we will be cutting our BAF fuel surcharge by 1% effective on all sailings on or after October 1st. We continuously monitor the price of bunker fuel and gas at both source and destination. Recent reductions in the price of both will result in the fuel surcharge being cut to 16% for East coast destinations and 18% for West coast destinations.
New Strategic FX Partnership: We are excited to announce we will soon be launching a new strategic partnership with Koverly, a financial technology solution specializing in foreign exchange and private credit services for importers. Koverly offers guaranteed best in market, no fee, foreign exchange rates – saving our importers on average 6x in global payments fees. In addition, when importers are approved for and use KoverlyPay for FX purchases, they receive an automated 30 day interest-free extension on payment. Extended terms for up to 24 weeks, with weekly repayments, are also available. We will soon be sending additional details and inviting our customers to a webinar, in the meantime, if you have FX needs, please reach out to your account representative or email email@example.com.
Potential Rail Strike: The railway operators and unions have failed to reach agreement on a new contract. The cooling off period for negotiations expires this Friday, 16th Sept. Rail services for inbound, outbound and in-transit freight are being adjusted as carriers prepare for a potential rail service strike. While this potential disruption does not directly affect our customers, it has the potential to further increase delays at ports and disrupt road freight services as operators move their containers off-rail. More details may be found here.