The Transpacific Stabilization Agreement (TSA) has recommended a US$400 per 40-foot container general rate increase (GRI) for its member-carriers operating from Asia to the United States effective November 15, 2013.

The move follows individual actions by several lines in the trade to raise their rates during October, and is part of continuing efforts “to restore baseline freight rates for holiday shipments and the 2014 contract negotiating season beyond,” an association statement read.

“The trade is seeing modest but healthy cargo growth over 2012, while cargo handling, equipment and other costs continue to rise and most carriers are operating at a loss,” said TSA executive administrator Brian Conrad.

“It makes no sense for rates to be at current levels, and it threatens the ability of individual carriers to maintain service levels heading into 2014,” he added.

Conrad noted that cargo volumes have risen steadily since mid-August and are expected to remain strong through mid-November when typical seasonal easing begins.

TSA is a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the U.S. Its members include APL, China Shipping Container Lines, CMA-CGM, Cosco Container Lines, Evergreen Line, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, Kawasaki Kisen Kaisha, Maersk Line, Mediterranean Shipping Co., Nippon Yusen Kaisha, Orient Overseas Container Line, Yangming Marine Transport, and Zim Integrated Shipping Services.

 

Photo: DonkeyHotey

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