Cargo Business Newswire

Thursday, July 17, 2014

Top Story

TSA carriers aim for August 1 rate increase on Asia-U.S. trades

Transpacific Stabilization Agreement member lines are recommending a general rate increase of at least $600 per-FEU from Asia to U.S. destinations, effective August 1, 2014, according to a TSA statement.

Individual lines filed the increases in June, and plans to implement an August 1 GRI were announced July 7, with the amount still to be determined.

"Cost-cutting has been at the heart of carrier strategies in recent years, but lines also recognize the potential implications over time in areas such as schedule reliability and equipment availability," said TSA executive administrator Brian Conrad. "It is essential for the trade to have a rate structure that encourages reinvestment, attracts equipment back into the market, covers rising inland transport and cargo handling costs, and enables carriers to broaden their service offerings. Given current rate levels, TSA members believe that $600 per-FEU is the minimum needed to meet those objectives."

TSA container lines include APL, China Shipping Container Lines, CMA-CGM, COSCO Container Lines, Evergreen Line, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, K Line, MSC, N.Y.K Line, Orient Overseas Container Line, Yangming Marine Transport, and Zim Integrated Shipping Services.

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