News
The Intra-Asia Discussion Agreement (IADA) on Dec. 10 unveiled a business plan (a freight rate restoration plan) that it will carry out in 2016 for shipments to and from Japan. For one-year contracts, rates will be restored upward by US$200 per TEU when they are renewed by April 1, according to a new guideline formulated in the business plan. For six-month contracts, meanwhile, freight rates will be hiked by $100 per TEU on April 1 and Oct. 1.
The IADA took similar steps in 2015 as well, increasing freight rates for services that its members operate on one-year agreements by $200 per TEU. For six-month agreements, rates were lifted by $100 per TEU on April 1 and Oct. 1.
