Shipping lines in the westbound Pacific intend to increase their rates on dry cargo exports to Asia by $50 per 40-foot container from California ports and $100 per FEU from the Pacific Northwest and inland intermodal points of origin and on all-water shipments from the East Coast effective July 1.
The 10 carriers that are members of the Westbound Transpacific Stabilization Agreement had previously announced rate increases on refrigerated shipments and hides, also to take effect on July 1.
Brian Conrad, WTSA executive administrator, said the proposed increases are part of the carriers’ “ongoing incremental strategy” to boost rates throughout 2012 to compensatory levels. He said the rate increases are focused primarily on commodity segments that have experienced the greatest decline in rates this past year.
The WTSA is a discussion and research forum representing 10 of the larger carriers in the export trade from the U.S. to Asia. The suggestions for rate increases are non-binding on its members, but tend to reflect their analysis of market conditions.