13.02.06Transpacific Carriers Seek Rate Hikes in April

Container shipping lines operating from Asia to the U.S. are seeking to shore up rate gains made to date as they look ahead to the post-Lunar New Year shipping period and as 2013-14 service contract negotiations intensify.

Member lines in the Transpacific Stabilization Agreement (TSA) are recommending an across-the-board general rate increase (GRI) on all dry and refrigerated cargo, effective April 1, 2013, in the amount of US$400 per 40-foot container (FEU) to the U.S. West Coast and $600 per FEU to all other destinations. They say freight rates remain below compensatory levels despite previous adjustments, and want to ensure that 2013-14 contract rates contain meaningful net increases relative to 2012 contract levels.