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Transpacific container lines aim for $1,000 per feu rate increase

Transpacific container lines aim for $1,000 per feu rate increase
Container lines on the transpacific trade are aiming for another $1,000 per feu general rate increase from mid-December.

The Transpacific Stablization Agreement (TSA) said member lines were recommending a further $1,000 per feu rate increase from 15 December of boxes from Asia – US.

TSA cited reports of double-digit growth in September and October and stronger than expected holiday traffic.

“With rates as low as they have been since 2011,” said TSA executive administrator Brian Conrad. “Lines have steadily reduced and consolidated services; they continue to play catch-up as demand ramps up beyond what had previously been expected.”

TSA has introduced multiple general rate increases across 2014, but with little success in terms of sustained increases.