China Cosco Holdings Co., Hanjin Shipping Co. and eight other shipping companies plan to raise rates for hauling containers to Asia from the U.S. in a bid to end losses on transpacific routes. The Westbound Transpacific Stabilization Agreement set a guideline for lines to boost rates by $300 per 40-foot container and by $240 for 20-foot boxes, the group said in an e-mailed statement dated Feb. 24. The increases will come into effect on April 1. … Shipping companies aim to return to profit this year after plunging demand and price wars caused industrywide losses in 2009.

From Business Week, February 24, 2010