Evergreen Marine Corp and Cosco Container Lines Ltd are among 10 shipping lines planning to raise cargo rates on US-Asia routes next year to help minimise losses from declining global trade.
The Westbound Transpacific Stabilisation Agreement is recommending an increase of US$100 per 40-foot container, and US$80 per 20-foot boxes from the west coast starting Feb 15, the group of 10 container lines said today in an e-mail statement.
Major transpacific carriers are estimated to lose US$20 billion this year as the global recession damps demand for shipments, the Transpacific Stabilisation Agreement said on Dec 16. Container lines have parked vessels and slashed sailings to revive rates amid a glut of new vessels that were ordered during a trade boom that ended last year.
'Carriers face a very difficult business environment in 2010,' Westbound Transpacific's executive administrator Brian Conrad said in the statement.
The group is also recommending a raise of US$150 per 40-foot box and US$120 per 20-foot container for all-water trade from the US east coast and Gulf coasts as well as intermodal moves, the shipping group said. The changes are part of a larger 2010 revenue programme, which will include quarterly increases through the year depending on market conditions, it said.
Other members of the group include Neptune Orient Lines Ltd's APL Ltd unit, Hanjin Shipping Co, Hapag-Lloyd AG, Hyundai Merchant Marine Co, Kawasaki Kisen Kaisha Ltd, Nippon Yusen KK, Orient Overseas Container Lines Inc and Yang Ming Marine Transport Corp.
The Westbound Transpacific Stabilisation Agreement is recommending an increase of US$100 per 40-foot container, and US$80 per 20-foot boxes from the west coast starting Feb 15, the group of 10 container lines said today in an e-mail statement.
Major transpacific carriers are estimated to lose US$20 billion this year as the global recession damps demand for shipments, the Transpacific Stabilisation Agreement said on Dec 16. Container lines have parked vessels and slashed sailings to revive rates amid a glut of new vessels that were ordered during a trade boom that ended last year.
'Carriers face a very difficult business environment in 2010,' Westbound Transpacific's executive administrator Brian Conrad said in the statement.
The group is also recommending a raise of US$150 per 40-foot box and US$120 per 20-foot container for all-water trade from the US east coast and Gulf coasts as well as intermodal moves, the shipping group said. The changes are part of a larger 2010 revenue programme, which will include quarterly increases through the year depending on market conditions, it said.
Other members of the group include Neptune Orient Lines Ltd's APL Ltd unit, Hanjin Shipping Co, Hapag-Lloyd AG, Hyundai Merchant Marine Co, Kawasaki Kisen Kaisha Ltd, Nippon Yusen KK, Orient Overseas Container Lines Inc and Yang Ming Marine Transport Corp.