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Transpacific container lines set out another Lunar New Year rate increase
The Transpacific Stabilization Agreement (TSA) is recommending another $600 per feu rate increase ahead of the Lunar New Year as lines struggle to raise rates on the key trade.
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Kalyakan - stock.adobe.com
TSA is recommending a $600 per feu increase from 9 February for all origins and destinations on the transpacific trade.
“This is a very challenging operating environment for transpacific container lines,” said TSA executive administrator Brian Conrad, “and it is critical to maintaining service levels that they not leave money on the table during the Lunar New Year period.”
The increase comes on top of a $600 per feu increases previously announced for 15 January and a $400 peak season surcharge for the Lunar New Year period.
However, despite a slew of increases, Conrad said profitability recently seen by lines on the trade had come almost entirely from cost-cutting rather than increases in revenues.
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