North/south carriers groups in Asia plan large rate increases
Two groups of ocean carriers in the trades connecting Asia to the East Coast of South America and South Africa and Australia are planning large increases in freight rates.
The Japan and Far East/Brazil and River Plate Shipping Trade Discussion Forum announced that its member carriers would implement freight rate increases of $500 per TEU April 1, and another $200 per TEU July 1. The increases would apply to shipments from Asia to the East Coast of South America, as part of a “2004 general rate restoration,” member carrier NYK said.
The Asia/South Africa Discussion Forum member lines plan to raise freight rates from Asia to South Africa by $400 per TEU April 1, and another $200 per TEU July 1.
Meanwhile transpacific carriers and shippers are negotiating service contracts from May 1. The Transpacific Stabilization Agreement shipping lines are seeking price increases of $450 per 40-foot equivalent unit from Asia to the U.S. West Coast and $600 per FEU from Asia to the U.S. East Coast, effective May 1.