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Container lines to increase US - Asia rates

Container lines to increase US - Asia rates
A day after announcing rate increases from Asia to the US, container lines are planning to hike the rates of key commodities shipping from the US to Asia.

The 15 member lines of the Transpacific Stabilization Agreement (Westbound) are planning to increase rates for waste paper, metal scrap, plastic scrap and resin, lumber and logs, hay and agricultural products shipped from the US to Asia.

The 15 November rate increases will be $100 per feu from US West Coast ports, $200 per feu from US East Coast and Gulf ports and $100 per feu for intermodal shipments.

The announcement came a day after a $400 per general rate increase (GRI) was announced for Asia to US shipments from 15 November. It also comes on top of individual rates increases by some lines.

“At the end of the day member lines are looking for increases of at least the levels in the guideline GRI,” TSA executive administrator Brian Conrad. “Whether they achieve the goal by building on recent individual increases, and the extent to which they pursue GRIs beyond the minimum levels, will be guided by market conditions and each carrier’s strategic objectives.”