Member container lines in the Transpacific Stabilization Agreement (TSA) are recommending a further $1,000-per-40-foot container (FEU) general rate increase (GRI) for all origins and destinations, reflecting stronger than expected holiday traffic and related service demands, TSA says in its press release. The recommended GRI takes effect on December 15, 2014.
TSA cited press reports of double-digit import growth in September and October, and forecasts of continued market momentum through the remainder of the year. As in recent years, the holiday retail season is likely to extend into January via gift cards and post-holiday sales promotions.
“With rates as low as they have been since 2011,” said TSA executive administrator Brian Conrad, “lines have steadily reduced and consolidated services; they continue to play catch-up as demand ramps up beyond what had previously been expected.”
TSA is a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the U.S.