Transpacific container lines plan to increase freight rates on various commodities from November 1.
Chief executives of the 10 major carrier members in the Westbound Transpacific Stabilization Agreement (WTSA) have signed off on a final schedule of recommended rate adjustments, and have indicated their intent to adjust the rates for the following commodities:
• Wastepaper
• Metal scrap
• Plastic scrap
• Hay
• Hides
• Forest products
• Protein cargo (refrigerated beef, pork and poultry)
• Agri-products (peas, beans, lentils, grains, soybeans and related products)
• Chemicals
• Clay
• Cotton
• Freight all kinds (FAK) cargo
• Refrigerated “NOS” cargo (miscellaneous dairy products, baked goods, prepared foods)
“Rate erosion over time has been dramatic for many of the highest-volume cargoes moving in the US-Asia trade,” said WTSA executive administrator Brian Conrad.
“After various postponements of these increases, lines could not wait any longer and they want to avoid any confusion in the marketplace – they intend to apply the recommended increases and reverse the downward trend in freight rates, beginning November 1.”
Chief executives of the 10 major carrier members in the Westbound Transpacific Stabilization Agreement (WTSA) have signed off on a final schedule of recommended rate adjustments, and have indicated their intent to adjust the rates for the following commodities:
• Wastepaper
• Metal scrap
• Plastic scrap
• Hay
• Hides
• Forest products
• Protein cargo (refrigerated beef, pork and poultry)
• Agri-products (peas, beans, lentils, grains, soybeans and related products)
• Chemicals
• Clay
• Cotton
• Freight all kinds (FAK) cargo
• Refrigerated “NOS” cargo (miscellaneous dairy products, baked goods, prepared foods)
“Rate erosion over time has been dramatic for many of the highest-volume cargoes moving in the US-Asia trade,” said WTSA executive administrator Brian Conrad.
“After various postponements of these increases, lines could not wait any longer and they want to avoid any confusion in the marketplace – they intend to apply the recommended increases and reverse the downward trend in freight rates, beginning November 1.”