According to multiple industry sources, the upcoming General Rate Increase (GRI) and Peak Season Surcharge (PSS) planned by Transpacific carriers appear to be "sticking" in the current market. With many vessels overbooked, space and equipment remain at a premium, creating a strong environment for carriers to pursue rate recovery. Members of the Transpacific Stabilization Agreement (TSA) have proposed a rate increase of USD 600 per FEU, across the board, to take effect on September 1, 2014. In addition, several carriers are proposing PSS charges of USD 300-400, effective by late August or early September.
SPARX logistics will continue to monitor this situation and keep our customers apprised of the later developments.