ASIA-US container freight rates rose by 10 per in the week to January 15 when members of the Transpacific Stabilisation Agreement (TSA) implemented the second of two rate increases, following an earlier price hike on December 20.
Yet freight rates are still well below the levels seen a year ago, according to Drewry's latest Hong Kong-Los Angeles container rate benchmark noting that eastbound spot rates rose to US$2,086 per laden FEU.
That compares with $1,886 per FEU a week earlier and less than $1,700 in early December before the first upwards adjustment was levied, reported Lloyd's List. Spot rates, however, are still 17 per cent lower than in January 2013, when they stood at more than $2,500.
Traditionally, shipping lines try to drive spot rates up at this time of the year ahead of annual contract negotiations when prices are fixed for the coming 12 months.
TSA member lines introduced a cross-the-board increase of $200 per FEU on December 20, and a $300 per FEU rise on January 15.
WORLD SHIPPING
18 January 2014 - 02:36
Drewry: Asia-US box rates surge 10pc on back of TSA price increase
ASIA-US container freight rates rose by 10 per in the week to January 15 when members of the Transpacific Stabilisation Agreement (TSA) implemented the second of two rate increases, following an earlier price hike on December 20.
WORLD SHIPPING
18 January 2014 - 02:36
Drewry: Asia-US box rates surge 10pc on back of TSA price increase
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