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TSA ups rates US$600/FEU June 1, again July 1, plus $400 PSS in July

MEMBER carriers of the Transpacific Stabilisation Agreement (TSA) are announcing US$600 per FEU rate increases on June 1 and July 1, as well as a peak season surcharge of $400 per FEU from July. 

TSA ups rates US$600/FEU June 1, again July 1, plus $400 PSS in July
09 May 2015 - 07:41

TSA ups rates US$600/FEU June 1, again July 1, plus $400 PSS in July

MEMBER carriers of the Transpacific Stabilisation Agreement (TSA) are announcing US$600 per FEU rate increases on June 1 and July 1, as well as a peak season surcharge of $400 per FEU from July. 

The increases, TSA said, are intended to counter recent erosion in market rates, while the PSS will help cover contingencies from seasonal cargo surges. 

"The sector is digging out from a very difficult period, and all parties are eager to return to a more stable, predictable environment in moving goods to market," said TSA executive administrator Brian Conrad. 

"We're fortunate that the US consumer remains strong, port throughput is improving, and operational chokepoints have eased. But it must be remembered that baseline service levels come at a cost," he said.

Mr Conrad said overcapacity will not be a big problem, and dismissed analysts' forecasts of 20 per cent overcapacity on US east coast, resulting in downward pressure on rates as being based on faulty assumptions.

He assumed most traditional west coast traffic will return to west coast ports once the current congestion situation ends. 

"Our carriers see a very different set of facts on the ground," Mr Conrad said, "with perhaps a 15 per cent net capacity increase in a market segment that grew by 10 per cent last year and by an annualised 22 per cent in the first quarter - nearly half of that the result of organic growth, not congestion-related cargo diversion." 

Mr Conrad also pointed out that east/Gulf coast vessel utilisation remains in the 95-100 per cent range as of mid-April, and that lingering uncertainty over how much discretionary cargo shippers will resume moving via the west coast makes it essential that carrier be prepared for contingencies going forward. 

TSA members include APL, "K" Line, CSCL, Maersk, CMA CGM, MSC, Cosco, NYK, Evergreen, OOCL, Hanjin, Yang Ming, Hapag-Lloyd, HMM and Zim.

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