CONTAINER shipping lines of the quasi-conference, Transpacific Stabilisation Agreement (TSA), have reaffirmed their March 9 general rate increase (GRI) of US$600 per FEU for all shipments and reconfirmed another $600 per FEU rate hike for April 9.
Restoring service levels and further ramping up to meet sustained and rising demand will entail significant operational costs as carriers begin the slow work of repairing their networks as US west coast congestion difficulties ease, said the TSA statement.
As forward bookings for after Chinese New Year suggest cargo demand will resume and continue to pick up pace, carriers are forecasting a "new normal" in inland operations growing out of recent congestion and the new longshore agreement, said the TSA statement.
"Carriers are mindful that all affected parties face higher operating costs as well as lost revenue and business opportunities amid the current situation," said TSA administrator Brian Conrad said.
"Carriers need to reverse some of the retrenchment seen since 2011 and complete the service integration necessary to fulfil scale and efficiency objective in the market," Mr Conrad said.
"Limited improvement in freight rates to date neither addresses costs accrued since last September nor the network investment necessary through 2016 to meet customers' needs," he said.
TSA members include APL, "K" Line, China Shipping, CMA-CGM, Maersk, Marine Transport Limited, MSC, Cosco, NYK, Evergreen Line, OOCL, Hapag-Lloyd, Hanjin, Yang Ming and Zim.
WORLD SHIPPING
26 February 2015 - 21:22
TSA to hike rate US$600/FEU March 9 and again on April 9
CONTAINER shipping lines of the quasi-conference, Transpacific Stabilisation Agreement (TSA), have reaffirmed their March 9 general rate increase (GRI) of US$600 per FEU for all shipments and reconfirmed another $600 per FEU rate hike for April 9.
WORLD SHIPPING
26 February 2015 - 21:22
TSA to hike rate US$600/FEU March 9 and again on April 9
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