Container shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) will raise dry cargo rates by US$300 per FEU and $240 per TEU from April 1.
The association said the increasing rates on cargo moving from the US to Asia was part of an ongoing effort to restore rate levels after a sharp drop in the second half of 2009.
Lines have additionally proposed that refrigerated cargo rates increase on April 1 by US$300 per FEU and $240 per TEU for US West Coast cargo, and by $500 per FEU and $400 per TEU for all other cargo, including minilandbridge, inland intermodal and all-water shipments from the US East and Gulf Coasts.
"Despite modest improvements in cargo demand and rates in recent months, all carriers continue to lose money in both directions between the US and Asia," explained WTSA executive administrator Brian Conrad.
"This has put sustained pressure on the westbound backhaul segment of the market to make its full contribution to roundtrip costs, particularly given cargo imbalance, equipment repositioning and other constraints unique to the trade."
WTSA members include:
APL, Hyundai Merchant Marine, OSCO Container Lines, "K" Line, Evergreen Line, NYK Line, Hanjin Shipping, OOCL, Hapag Lloyd and Yang Ming.
The association said the increasing rates on cargo moving from the US to Asia was part of an ongoing effort to restore rate levels after a sharp drop in the second half of 2009.
Lines have additionally proposed that refrigerated cargo rates increase on April 1 by US$300 per FEU and $240 per TEU for US West Coast cargo, and by $500 per FEU and $400 per TEU for all other cargo, including minilandbridge, inland intermodal and all-water shipments from the US East and Gulf Coasts.
"Despite modest improvements in cargo demand and rates in recent months, all carriers continue to lose money in both directions between the US and Asia," explained WTSA executive administrator Brian Conrad.
"This has put sustained pressure on the westbound backhaul segment of the market to make its full contribution to roundtrip costs, particularly given cargo imbalance, equipment repositioning and other constraints unique to the trade."
WTSA members include:
APL, Hyundai Merchant Marine, OSCO Container Lines, "K" Line, Evergreen Line, NYK Line, Hanjin Shipping, OOCL, Hapag Lloyd and Yang Ming.