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.