Container lines with the Transpacific Stabilization Agreement (TSA) plan to implement a general rate increase (GRI) on the Asia-U.S. trade lane from mid-December in response to robust holiday commerce.
In an emailed statement, TSA said it is recommending a further $1,000-per-40-foot container GRI for all origins and destinations to reflect “stronger than expected holiday traffic and related service demands.”
The recommended GRI is to take effect on December 15, 2014.
TSA cited press reports of double-digit import growth in September and October, and forecasts of continued market momentum through the remainder of the year. As in recent years, the holiday retail season is likely to extend into January via gift cards and post-holiday sales promotions, it added.
“With rates as low as they have been since 2011, lines have steadily reduced and consolidated services; they continue to play catch-up as demand ramps up beyond what had previously been expected,” said TSA executive administrator Brian Conrad.
TSA is a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the U.S. These carriers include APL, China Shipping Container Lines, CMA-CGM, COSCO Container Lines, Evergreen Line, Hanjin Shipping Co., Hapag-Lloyd, Hyundai Merchant Marine, Kawasaki Kisen Kaisha, Maersk Line, Mediterranean Shipping Co., Nippon Yusen Kaisha, Orient Overseas Container Line, Yangming Marine Transport, and Zim Integrated Shipping Services.
Photo: Charles Csavossy
