News
The Transpacific Stabilization Agreement (TSA) has announced further guideline increases for March and May, along with new 2014-15 contract program
Transpacific cargo demand has posted steady growth coming off a healthy holiday season, and container lines serving the Asia-U.S. trade lane say the gains are so far reflected in freight rates, TSA said.
A January 15 general rate increase (GRI) taken by the member lines has added an average US$300 per FEU to rate levels. Strong forward bookings suggest that the increase will hold through the important Lunar New Year period, TSA said, and lines intend to build on the momentum with another $300 per FEU increase, effective March 15, and a further May 1 increase separate from rate adjustments planned for 2014-15 contracts.
TSA also announced its 12-month revenue and cost recovery program for 2014-15 contracts, which recommends increases to contract rates of $300 per FEU from 2013-14 levels for U.S. West Coast cargo and $400 per FEU for all other cargo.
