Neptune Orient Lines has cautioned there is no guarantee plan that the Transpacific Stabilization Agreement’s announced plan for a $500 per 40-foot container rate hike will succeed.
"There is no assurance that APL can successfully implement the quantum of freight rate increase as outlined in the TSA guideline," said the parent of container carrier APL in the statement issued through the Singapore Stock Exchange.
NOL said it issued the comment as a "clarification statement" in response to an article in the Singapore Business Times and other media reports.
"The TSA is a liner discussion agreement covering the Asia/U.S. container trade lane. It comprises 14 container shipping lines, including APL," NOL noted. "The TSA regularly issues guidelines on freight rates and other issues. However, individual carriers have a ‘mandatory right of independent action’ whether or not to adhere to these guidelines."
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