Container shipping lines serving the Asia/U.S. freight market say they will seek an across-the-board freight rate increase of $500 per 40-foot equivalent unit next month.
The 14 members of the Transpacific Stabilization Agreement (TSA) said they have adopted a voluntary guideline increase because "average rate levels achieved in the latest round of service contract negotiations are not sustainable over the typical 12-month 2009-2010 contract term."
The $500 per FEU increase, with proportionate increases for other equipment sizes, is to take effect Aug. 10. The increase will apply to rates for all commodities and all U.S destinations.
TSA said that in certain cases, it will be necessary for lines to engage with shippers in a renegotiation of contracts that do not provide for some form of interim rate adjustment.
The carriers said they will also pursue full implementation of the quarterly bunker fuel charge, which adjusted upward on July 1 to reflect higher fuel prices.
TSA added that the planned general rate increase does not preclude the possibility of a peak season surcharge if the market measurably strengthens and extensive peak season costs are incurred.
TSA members are APL, China Shipping, CMA CGM, COSCO Container Line, Evergreen, Hanjin, Hapag-Lloyd, Hyundai Merchant Marine Co., "K" Line, Mediterranean Shipping Co., NYK Line, Orient Overseas Container Line, Yang Ming and Zim.
American Shipper
Login
.jpg)
