WTSA raises cargo rates
Container lines in the U.S.-Asia trade adopted a round of dry cargo rate increases that took effect on July 1.
Member lines in the Westbound Transpacific Stabilization Agreement (WTSA) are increasing to rates of $50 per 40’ container (FEU) from California ports and $100 per FEU for all other intermodal and all-water shipments, with proportionate increases for other equipment sizes and cargo otherwise rated.
WTSA executive administrator Brian M. Conrad said the relatively modest increases are part of an ongoing incremental strategy throughout 2012 to restore rates to compensatory levels that will adequately meet service demand, attract container equipment into the trade and reverse steep declines in revenues and carriers’ overall financial health. Conrad added that increases are primarily focused on commodity segments where rates have fallen the farthest and/or have not taken increases in previous rounds.
WTSA is a voluntary discussion and research forum of 10 major ocean and intermodal container shipping lines serving the trade from ports and inland points in the U.S. to destinations throughout Asia.