Operation News

Transpacific carriers seek August rate hike


Container shipping companies in the Asia-to-U.S.trade are seeking to raise dry cargo container rates by an average of $500 per 40-foot container (FEU).

The Transpacific Stabilization Agreement (TSA), a discussion agreement of 15 container carriers in the eastbound transpacific trade, said shipping companies "have stepped up efforts to raise freight rates, seeking stronger earnings moving into the summer. The aim is to stabilize recent volatility, boost rates to better accommodate growing demand, and establish a more compensatory baseline for subsequent negotiation of 2013 longer-term contracts."

TSA said individual carriers serving the Asia-to-U.S. trade have announced during the past week various dry cargo increases averaging $500 per FEU to the U.S. West Coast and $700 per FEU for all other shipments.
"Effective dates vary by carrier, but for the most part, will be during the first week of August," TSA said.
It said its 15 members "are recommending increases to refrigerated cargo rates of $1,000 per FEU to the U.S. West Coast and $1,250 per FEU for all other destinations," effective Aug.15. 
TSA members include APL, China Shipping, CMA CGM, COSCO, Evergreen, Hanjin, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, Maersk Line, Mediterranean ShippingCo., NYK, OOCL, Yang Ming, and Zim

(Source American Shipper)