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Carriers raise U.S.-to-Asia plastic rates

Carriers raise U.S.-to-Asia plastic rates

   Shipping lines of the Westbound Transpacific Stabilization Agreement plan to raise freight rates for shipments of plastic scrap from the U.S. to Asia, effective Oct. 1.

   The carrier agreement has finalized recommendations for an increase of $100 per 40-foot container and $80 per 20-foot container on plastic scrap shipments from all U.S. origin points to all Asia destinations.

   “The scheduled rate increase reflects both rising demand and the increased carrier costs associated with plastic scrap shipments,” the carrier group said in a statement. U.S. containerized plastic scrap exports to Asia totaled 26,000 40-foot equivalent units (FEUs) during the first half of this year, up 11.9 percent from the first half of 2003. China accounted for 13,600 FEUs of the half-year traffic of plastic scrap shipments this year, up 12 percent over the first half of last year.

   “Strict new health, safety and environmental certification rules for overseas exporters of scrap materials to China … are likely to require increased documentation, entry delays and costs for plastic scrap,” the carrier agreement said. China’s General Administration of Quality Supervision Inspection and Quarantine on Sept. 1 imposed new certification requirements to more carefully monitor and regulate waste exports to China.