The Ghana Shippers' Authority (GSA) and the Cocoa Marketing Company (CMC) have concluded freight negotiations with 18 international carriers and shipping lines for the shipment of Ghana's cocoa during the 2026/27 season. The discussions, held in Antwerp, Belgium, established agreed freight rates and operational arrangements for exports to Europe, the Far East, and South America. This development provides a predictable framework for moving one of Ghana's most important export commodities.
The negotiations took into account global shipping market developments and the need to maintain competitive rates as Ghana enters a new cocoa season. Fluctuations in global cocoa prices are exerting pressure on Ghana's marketing and financing arrangements. The agreed rates are as follows: £32.00 per tonne to the United Kingdom, with a 35% Bunker Adjustment Factor (BAF); €58.42 per tonne to the North Continent; and €66.77 per tonne to Estonia.
The negotiations also confirmed operational responsibilities following the shift from Less than Container Load/Full Container Load (LCL/FCL) to Full Container Load/Full Container Load (FCL/FCL). Shipping lines will provide dressing materials, position empty containers at stuffing areas, and bear lift-on/lift-off costs. CMC will remain responsible for container dressing, stuffing, delivery to terminals, and fogging of containers.
The shipping lines will quote all-inclusive freight rates covering obligations, Ghana Ports and Harbours Authority shore handling, Receipt and Delivery charges, and incidental loading costs. Payments will be made in US dollars, with currency conversions sourced from Reuters at the Bill of Lading date. Carriers have been urged to release non-negotiable Bills of Lading to CMC within 24 hours of vessel sailing.
CMC has pledged to maintain uniform lift-on/lift-off charges and prevent increases in the prices of desiccants and related materials during the season. The GSA noted that its participation ensures shipper interests are represented in discussions that directly affect costs and operational conditions in the cocoa trade.
The concluded freight rates and operational arrangements will facilitate the smooth transportation of Ghana's cocoa exports. Shipments to Mediterranean Europe will attract €65.58 per tonne, also with a 35% BAF. For the Far East, the rate stands at US$112.80 per tonne, Japan at US$119.14 per tonne, and Brazil at US$130.54 per tonne. Rates for the Far East, Japan, and Brazil are inclusive of the BAF.
With the freight rates now concluded, attention shifts to implementation as Ghana seeks to safeguard the competitiveness of its cocoa exports amid broader fiscal and market pressures. The successful conclusion of these negotiations is crucial for Ghana's cocoa industry, which is a significant contributor to the country's economy. The implementation of the agreed rates and operational arrangements will be closely monitored to ensure a smooth and efficient transportation process.
Key points
- Ghana's Cocoa Marketing Company and Ghana Shippers' Authority finalize freight rates with 18 international carriers for the 2026/27 cocoa season.
- The agreed freight rates provide a predictable framework for moving Ghana's cocoa exports to Europe, the Far East, and South America.
- The negotiations took into account global shipping market developments and the need to maintain competitive rates.
