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.
Transpacific Stabilization Agreement
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).
06 Feb 2015
Spot rates on the Asia-U.S. trades soared this week as trans-Pacific carriers prepared to slap on another general rate increase and the East Coast route continued to benefit from heavy levels of West Coast port congestion.
04 Feb 2015
Shipping lines in the eastbound trans-Pacific announced an unusually aggressive program of rate hikes for the coming months, with two definite general rate increases totaling $1,200 per 40-foot container, and possibly a third rate hike in April. Increases in minimum service contract rates are also proposed.
19 Jan 2015
Low bunker fuel prices are helping container shipping line balance sheets, but another impact will be improved schedule reliability as carriers can afford to speed up vessels to make up time lost to rising congestion at many ports around the world.
16 Jan 2015
Carriers in the eastbound trans-Pacific are leveraging what they think will be strong pre-Chinese New Year volumes to implement a $600-per 40 foot container rate increase set to take effect on Feb. 9. The increase will apply to all origins and destinations, the Transpacific Stabilization Agreement, a carrier group, said on Friday.
03 Jan 2015
The year 2014 ended much the way it played out throughout the year in Asia to U.S. spot container rates. Rates declined following an upward spurt triggered by a rate increase. And rates to the U.S. East Coast declined by much less than rates to the West Coast and are up significantly versus a year ago, reflecting continuing demand for services that avoid the West Coast and especially Southern California.
19 Dec 2014
Carriers announced general rate increases that span into February this week, as spot rates around the globe respond to mid-December rate hikes. Drewry Maritime Research’s World Container Index composite index, which measures 11 East-to-West trade lanes, jumped a cumulative 35.8 percent this week.
17 Dec 2014
Another set of historic rate increases are on tap for the trans-Pacific, as the 15 members of the Transpacific Stabilization Agreement announced hikes totaling $1,000 per FEU.