Saying that predictions of 20 percent over-capacity on all-water services to the East Coast this year “were based on faulty assumptions,” a carrier discussion agreement in the eastbound Pacific is recommending two general rate increases and a peak season surcharge.
Transpacific Stabilization Agreement
10 Apr 2015
For the first time, the Transpacific Stabilization Agreement, a discussion group representing 15 of the largest carriers in the trans-Pacific trade lanes, is pushing for base levels during the current contracting season, a departure from its longstanding policy of issuing targets for rate increases.
11 Mar 2015
Carriers in the trans-Pacific eastbound market are hoping to leverage robust volumes, higher spot rates and the disruption tied to the recent U.S. West Coast labor standoff to achieve higher rates in annual contracts with shippers that take effect on May 1.
25 Feb 2015
Shipping lines in the eastbound Pacific confirmed on Wednesday their intention to raise freight rates $600 per 40-foot container for all shipments on March 9, and to increase rates an additional $600 per FEU on April 9.
13 Feb 2015
The U.S. East Coast spot rate hit $5,049 per FEU this week as rising demand for the all-water service pushed rates to record levels, according to the latest reading of the Shanghai Containerized Freight Index (SCFI).