TACA raises westbound, eastbound rates

TACA raises westbound, eastbound rates

The Trans-Atlantic Conference Agreement announced tariff increases in both the westbound and eastbound trade lanes, effective July 1.

The group said rates would rise by $280 per 20-foot container, and $350 per 40/45 foot container in the westbound trade lane. On the eastbound side, the increase will be $240 per 20-foot container, and $300 per 40/45 foot container.

The group said in a statement that westbound trade volume and capacity utilization terms remains steady, while, on the eastbound side, volume and capacity utilization are beginning to recover.

The lines said that rising ship charter rates, a worldwide shortage of containers, and escalating steel prices are some of the reasons for the rate hike.

The Members of the TACA are: Atlantic Container Line, Nippon Yusen Kaisha (NYK) Line, Hapag-Lloyd Container Linie GmbH, Orient Overseas Container Line, Mediterranean Shipping Co., P&O Nedlloyd, and A.P. Moller-Maersk Sealand