Container shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) are recommending a further general rate increase on ocean cargo moving from the U.S. to Asia. Effective April 1, 2010, WTSA carriers say they intend to raise dry cargo rates by US$300 per 40-foot container (FEU) and US$240 per 20-foot container (TEU), as well as increases for refriderated and all other cargo, including minilandbridge, inland intermodal and all-water shipments from the U.S. East and Gulf Coasts.
“Despite modest improvements in cargo demand and rates in recent months, all carriers continue to lose money in both directions between the U.S. and Asia,” explained the WTSA executive administrator. “This has put sustained pressure on the westbound backhaul segment of the market to make its full contribution to roundtrip costs, particularly given cargo imbalance, equipment repositioning and other constraints unique to the trade.”
