News
Transpacific container lines intend to pursue further revenue improvement that is essential if they are to achieve financial viability and maintain service levels customers expect in the service-intensive Asia-U.S. market.
As a result, member carriers in the Transpacific Stabilization Agreement (TSA) are recommending a further guideline general rate increase for all commodities in the amount of US$400 per 40-foot container (FEU) to the U.S. West Coast and $600 to all other destinations, subject to contract terms, effective July 1, 2013.
Despite modest revenue gains in 2013-14 service contracts and subsequent increases taken by individual carriers in May, rates remain well below target levels needed to maintain profitability and invest for future growth, TSA said.
TSA members include APL, China Shipping Container Lines, CMA-CGM, COSCO Container Lines (COSCON), Evergreen Line, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine (HMM), Kawasaki Kisen Kaisha (K Line), Maersk Line, Mediterranean Shipping Co. (MSC), Nippon Yusen Kaisha (NYK), Orient Overseas Container Line (OOCL), Yangming Marine Transport Corp., and Zim Integrated Shipping Services.
