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Indiaexportnews.com

TSA ups westward transpac rate

  13.10.2014    

The Transpacific Stabilisation Agreement (TSA) Westbound carriers have increased rates US$300 per FEU from LA/Long Beach and by $750 per FEU for all-water US east and Gulf Coast shipments to China of waste paper, hay, and metal and plastic scrap from November 1, according to Shipping Gazette.
"This comes in a trade where low-value cargo such as recyclables and hay account for 40 per cent, and are moving at rates which do not cover transport costs, let alone contribute to voyage costs," said the TSA statement.
TSA-Westbound lines said the increase still does not restore rates to sustainable levels and will need to be higher with further increases likely in December and in early 2015, reports the American Journal of Transportation.
"Many base cargo rates in the westbound transpacific market are approaching levels that do not justify carriage, especially when you take into account offsetting destination costs such as equipment cleaning and repair and local delivery," said TSA-Westbound executive administrator Brian Conrad.
"That's bad news for shippers in a market with strong headhaul Asia-US demand for repositioning of empty equipment on westbound ships, as well as for carriers for which recyclables and hay represent a large share of the market," said Mr Conrad.



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