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Trans-Pacific carriers seek postholiday rate hike

from The Journal of Commerce

Trying again to stop the erosion of rates that has hit major east-west trade lanes in 2011, shipping lines in the eastbound Pacific intend to implement interim rate hikes Jan. 1. The Transpacific Stabilization Agreement, a discussion group of 15 carriers operating Asia to the U.S., said its member lines plan to individually raise all-inclusive freight rates and charges by a minimum of $400 per 40-foot container. Although the rate increases will be too late for holiday season imports, the carriers appear poised to take advantage of a cargo spike anticipated in January before factories in Asia close for the 2012 Chinese New Year celebrations. more

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