WTSA SPELLS OUT PROPOSED “MINIMUM RATES”

WTSA SPELLS OUT PROPOSED “MINIMUM RATES”

WTSA SPELLS OUT PROPOSED “MINIMUM RATES”

   The Westbound Transpacific Stabilization Agreement, a group of transpacific shipping lines, announced further details of its proposed “minimum rates” for shipments of wastepaper moving from the U.S. to Asia.

   Effective Dec. 1, the carrier group aims to introduce minimum freight rates per 40-foot equivalent unit from the U.S. West Coast that range from $250 for Hong Kong destination to $650 for shipments to Vietnam. Minimum prices from the U.S. East Coast range from $600 per FEU for Hong Kong to $1,000 per FEU for Vietnam.

   The plan to introduce minimum rates was announced on Oct. 23.