Containerchain Extends Payment Terms to Assist Container Transport Operator Cash Flows During the COVID-19 Crisis Container Transport Alliance Australia (CTAA) has negotiated with Containerchain an extension to payment terms to assist Australian container transport operators to manage the current cash-flow squeeze during the unprecedented COVID-19 Coronavirus pandemic.
Containerchain's payment terms will be extended from 14 days to 21 days for a period of three months, commencing for invoices raised on 1 April for March 2020 Notification Fees. The payment terms' extension will be kept under review as container logistics trade continues to be affected by the current global health emergency.Containerchain Managing Director, Chris Collins, said that the decision "shows our support and commitment to being an industry focussed technology provider for the benefit of the industry." And that "... we will work with the Australian container logistics sector to get through this current crisis as best we can together." CTAA also continues to discuss with Containerchain and their empty container depot clients the need for systems' and procedural changes to ensure that cancelled Notification slots are not invoiced unnecessary Notification Fees. This is a growing concern among transport operators now that Notification Fees are markedly higher, and Notifications are cancelled more often (by empty container depots or transport operators) due to empty redirections or a lack of empty export container availability.
The extension of payment terms by Containerchain is a "win" for not just CTAA alliance companies, but for all container transport operators. It's another example of the benefits that a strong alliance of companies under the CTAA banner, dedicated to container transport logistics issues, can achieve across all Australian container ports.
Download the Joint Statement below: |