Trans-Pacific container lines got a reprieve from sliding freight rates this week when they put a general rate increase into effect on May 21, but freight rates are likely to continue to slide in the major east-west trades because some carriers continue to slash rates after repeated GRIs in an effort to gain market share.
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Drewry’s Hong Kong-Los Angeles Container Rate Benchmark rose $250 this week, achieving almost 63 percent of a proposed $400 per-40-foot-container general rate increase by USL and CMA CGM set for May 21.
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PeterTirschwell said: I always get a kick out of shippers who occasionally raise objections to carrier antitrust immunity. Have you looked at the rates recently?
Szakonyi_JOC said: Paging WH. MT @tatecurtis Rockefeller to Foxx, points out elephant in room: You can't be a good transportation secretary without new revenue
Szakonyi_JOC said: Mayor Foxx says he will consider grant program for freight projects of natl & regional importance if confirmed as DOT chief.
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The Port of Virginia is aiming to boost container traffic by capitalizing on its post-Panamax draft, tapping improved intermodal service, increasing customer service and developing distribution centers.
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