TSA LINES POSTPONE DECEMBER 1 DRY CARGO RATE INCREASE Oakland, CA / November 16, 2012 – Container lines serving the trade from Asia to the U.S. say they intend to implement a previously announced dry cargo general rate increase (GRI) on December 15, 2012 instead of December 1. The postponement reconciles varying effective dates adopted on a voluntary basis by individual carriers to avoid confusion in the market, and more closely aligns the scheduled increase with yearend cargo trends. Member carriers in the Transpacific Stabilization Agreement (TSA) are recommending a dry cargo general rate increase (GRI) of US$400 per 40-foot container (FEU) to the U.S. West Coast, and US$600 per FEU for all other destinations. TSA initially announced the GRI in October, explaining at the time that revenue improvement is critical amid flat or declining rate levels in many commodity segments. This is especially true as lines head into the winter season and begin laying a foundation for negotiation of compensatory 2013-14 service contracts that are essential to delivering sustained, quality services in the transpacific trade. 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. More information on TSA can be found at www.tsacarriers.org. TSA members include: APL Ltd. Kawasaki Kisen Kaisha, Ltd. (K Line) China Shipping Container Lines Maersk Line CMA-CGM Mediterranean Shipping Co. COSCO Container Lines, Ltd. Nippon Yusen Kaisha (N.Y.K. Line) Evergreen Line Orient Overseas Container Line, Ltd. Hanjin Shipping Co., Ltd. Yangming Marine Transport Corp. Hapag-Lloyd AG Zim Integrated Shipping Services Hyundai Merchant Marine Co., Ltd. (bjh) NY
TSA LINES POSTPONE DECEMBER 1 DRY CARGO RATE INCREASE
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