Carriers in the westbound Pacific trades reconfirmed their intention to implement export rate increases generally of $100 to $200 per 40-foot container effective Nov. 1, the Journal of Commerce reported.
The Westbound Transpacific Stabilization Agreement, a discussion group of 10 carriers in the export trade from the U.S. to Asia, posted the proposed commodity-specific rate increases on its website.
WTSA announced on Sept. 30 its intention to post the specific rate hikes for more than a dozen commodities.
Rate hikes range from $100 per-FEU for commodities such as metal scrap, hay and “freight all kinds” to $200 per FEU for hides and lumber. The guideline for frozen beef is a rate increase of $150 per-FEU.
Wastepaper, a low-value, low-margin product, was assigned a proposed rate hike of $50 per-FEU.
The WTSA is a discussion agreement with no enforcement powers, so it posts voluntary guidelines, which the individual member lines may or may not choose to implement in service contracts with their customers. “Rate erosion over time has been dramatic for many of the highest-volume cargoes moving in the U.S.-Asia trade, said Brian Conrad, WTSA’s executive administrator.
The Westbound Transpacific Stabilization Agreement, a discussion group of 10 carriers in the export trade from the U.S. to Asia, posted the proposed commodity-specific rate increases on its website.
WTSA announced on Sept. 30 its intention to post the specific rate hikes for more than a dozen commodities.
Rate hikes range from $100 per-FEU for commodities such as metal scrap, hay and “freight all kinds” to $200 per FEU for hides and lumber. The guideline for frozen beef is a rate increase of $150 per-FEU.
Wastepaper, a low-value, low-margin product, was assigned a proposed rate hike of $50 per-FEU.
The WTSA is a discussion agreement with no enforcement powers, so it posts voluntary guidelines, which the individual member lines may or may not choose to implement in service contracts with their customers. “Rate erosion over time has been dramatic for many of the highest-volume cargoes moving in the U.S.-Asia trade, said Brian Conrad, WTSA’s executive administrator.