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Lines to lift rates on Asia-US, Europe trades

5/6/2014 8:52:00 AM

Container shipping lines have agreed to raise Asia-US freight rates by $300 per 40-ft FEU to West Coast ports and by $400 to all other ports in the US from May 15 while Maersk Line and CMA-CMG said they would raise prices by an average $500 per TEU over the next eight days on the Asia-Europe route.

The Asia-US increase was agreed by companies in the Transpacific Stabilisation Agreement (TSA), which also adopted a $400 per FEU peak season surcharge effective June 15, reported Reuters.

The TSA groups 15 of the world's biggest container shipping lines, including Denmark's Maersk Line, a unit of A P Moller-Maersk, privately owned Swiss-based Mediterranean Shipping Co (MSC), French privately held CMA CGM, China's Cosco and South Korea's Hanjin Shipping.

Cargonews Asia


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