Shipping lines that carry U.S. exports to Asia intend to increase their freight rates by at least $100 per 40-foot container effective Oct. 1.
The Transpacific Stabilization Agreement Westbound, a discussion group of 15 carriers, has announced that the guideline for the general rate increase applies to all commodities from all U.S. origin points.
Brian Conrad, executive administrator of the TSA Westbound, said carriers recognize an urgent need to begin a trend of rate improvements now that U.S. exports to Asia are beginning to increase.
“Rates have drifted down even more than usual during the typical summer slack period, to unsustainable levels. Not only are we headed into the busiest time of the year for trade, but we are also seeing signs in the market that U.S. exports to Asia are poised for recovery in the coming months,” Conrad said.
The Journal of Commerce
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