The TPP11 comes into force for the initial six ratifying countries on 30 December 2018 immediately lowering the 5% tariff on most goods from Mexico and Canada and providing tariff relief by eliminating 98% of tariffs in the TPP11 region with the goal that by the end of 2021 the majority of products will be duty-free under the agreement.
The Victorian State Government and Citylink’s owner Transurban have reached an agreement which will see tolls increase for commercial vehicles using Citylink.
The increase is being imposed to help pay for the $1.28 billion CityLink and Tullamarine Freeway widening project.
From the 1st of April tolls increase by up to 125% for all heavy commercial vehicles, including container transporters using CityLink and the Monash Freeway. This will affect freight moving along the heavily trafficked freight corridors to and from Melbourne’s North and West along Bolte Bridge and the Tullamarine Freeway.
The tolls increase will more than likely result in an increase in transport prices as the container transport operators have resolved to pass the additional costs down the supply chain. Individual transport operators are in the process of amending their pricing models to accommodate these increases.
Magellan has partnerships with a number of different transport companies and we await advice from them on changes to transport pricing structures after 1 April. When we have a full picture of what the toll increase will mean for our clients we will communicate with our clients on specific changes that affect them directly. We expect to be in a position to do this in the next week.
In the meantime, if you have any questions, please do not hesitate to get in touch with your Magellan team member or contact me on 1300 651 888 or firstname.lastname@example.org