News
The Transpacific Revenue Index for maritime carriers providing services destined to the west coast of North America was 81.27 points in September 2011, down 0.24 points from the previous month’s 81.51 points, according to an announcement made Nov. 1 by the Transpacific Stabilization Agreement (TSA).
The index for shipping lines catering to trades to the east coast of North America, which went up in August, declined by 0.89 points to 77.97 points.
Freight rates for services bound for North America recovered sharply in 2010 after plunging in the aftermath of the global recession triggered by the bankruptcy of Lehman Brothers Holdings Inc.
As such, the indices for services to the west coast and the east coast both reached all-time highs in August 2010, growing to 114.75 points and 101.02 points, respectively.
However, freight movement has been negatively impacted by the oversupply of tonnage from the ongoing successive completion of large containerships and the delay in the recovery of the U.S. economy.
For these reasons, the balance between supply and demand has become worse, and the indices have been on the decline.
The Trans-Pacific Revenue Index is calculated from the average revenue per FEU of shipping companies
The index?up or down from June 2008, when it is assumed to have been 100 points?has been unveiled every month since January 2010.
It includes contract freight rates and spot rates as well as terminal handling charges (THCs) and various other non-floating charges, but doesn’t include bunker surcharges.
