Thursday, November 5, 2009

West Coast Export Rate Increases Announced

Fast on the heels of gloomy third quarter earnings reports throughout the shipping industry, which laid the blame in no small part at the feet of "unsustainably" low rate levels, the Westbound Transpacific Stabilization Agreement has announced another round of rate hikes for US exports to Asia.

WTSA, an industry discussion group of 10 transpac carriers, is recommending that as of Dec. 1 member lines should raise dry container rates moving through the ports of Long Beach ad Los Angeles by $80 per 20-foot container, or TEU, and $100 per 40-foot container, or FEU.

WTSA also suggested members increase dry cargo shipment rates through other West Coast ports by $120 per TEU and $150 per FEU.

Starting Jan. 15, 2010, WTSA is calling for a general rate increase of $200 per refrigerated TEU and $250 per refrigerated FEU. Rates for refrigerated cargo moving intermodally via rail or through East Coast and Gulf ports were recommended by the WTSA to increase $400 per TEU and $350 per FEU.