Carriers raise westbound transpacific rates
Shipping lines of the Westbound Transpacific Stabilization Agreement have adopted guidelines of rate increases for U.S.-to-Asia cargo not already covered in their 2004 rate program.
The “general guideline increase” in dry cargo freight rates, effective Feb. 1, is $200 per 40-foot container and $160 per 20-foot container, with proportionate recommended increases for cargo otherwise rated.
The planned adjustment will apply to all dry cargo not otherwise subject to commodity-specific increases announced on a seasonal basis throughout the coming year, the carrier group said.
The Westbound Transpacific Stabilization Agreement said the recommended increase reflects “a growing U.S.-to-Asia cargo market; demand for expanded transportation and logistics services; and steadily rising equipment, inland transport, labor, capital, administrative and other costs associated with providing those services.”
The Westbound Transpacific Stabilization Agreement carriers are: APL, China Shipping Group, COSCO Container Lines, Evergreen Marine Corp., Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, “K” Line, MOL, NYK, Orient Overseas Container Line, P&O Nedlloyd and Yang Ming.