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CONTAINER shipping lines operating the busy route between America and Asia
will increase prices for shipments and raise fuel surcharges to reflect
higher operating costs, an industry group said.
The group of container carriers, known as the Westbound Transpacific
Stabilisation Agreement (WTSA), said in a statement that the rate increases
would apply to certain categories of cargo as of April 1.
These include what it describes as miscellaneous cargo not otherwise
specified and mixed “freight all kinds” cargo.
The group decided to raise the price for the shipment of a 40-ft container
by US$50 and that of a 20-ft container by US$40 for United States west coast
and east coast shipments to Asia.
The price of shipments from an inland point in the US carried on trucks or
railways will be raised by US$300 for a 40-ft container and by US$240 for a
20-ft container.
In addition, the container shipping firms agreed a voluntary guideline that
by Jan 1, 2008, fuel or bunker surcharges in new cargo contracts of
miscellaneous or mixed cargo are to be increased by at least US$90 per 40-ft
container.
“The planned rate increases, and changes to the bunker surcharge, are
intended to address significantly higher operating costs expected during
200708 for cargo handling at US ports, inland rail and truck charges, and
equipment repositioning, along with anticipated fuel price volatility over
time,” the group said.
WTSA is a grouping of 10 container shipping lines operating between America
and Asia.
Its members are Neptune Orient Lines, American President Lines, Cosco
Container, Evergreen Marine, Hanjin, Hapag Lloyd, Hyundai Merchant Marine,
Kawasaki Kisen Kaisha, Nippon Yusen Kaisha, Orient Overseas and Yangming
Marine.
The WTSA and its counterparts covering the Asia-America and Asia-Europe
routes, the Transpacific Stabilisation Agreement and the Far Eastern Freight
Conference, say they do not set container freight rates, which would
constitute an illegal cartel in most countries, but look at factors such as
economic growth and fuel costs and then recommend price adjustments.
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