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Container lines plan transpacific rate increase

Container lines plan transpacific rate increase
Container lines on the transpacific trade are aiming to raise Asia – US rates by $400 per feu from 15 November.

As container lines continue to struggle for profitability the 15 member lines of the Transpacific Stabilization Agreement (TSA) announced plans for the $400 per feu general rate increase on all origin and destination ports of on the Asia – US trade.

 “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.”

TSA said cargo volumes on the trade had been rising steadily since mid-August.