Hike in Box Rates Planned

Container lines are planning a $600 per feu general rate increase on the transpacific trade on 1 August. The Transpacific Stabilization Agreement (TSA) has set a minimum of $600 per feu increase from all ports in Asia to all destinations in the US on the back of what it described as “sustained third-quarter cargo demand across major commodity segments”. TSA executive administrator Brian Conrad said: “It is essential for the trade to have a rate structure that encourages reinvestment, attracts equipment back into the market, covers rising inland transport and cargo handling costs, and enables carriers to broaden their service offerings.