According to multiple media sources, carrier members of the Transpacific Stabilization Agreement (TSA) have announced plans for a general rate increase (GRI) of USD 600 per 40' container, effective October 15, from all origins to all destinations. The move represents the tenth GRI introduced by the TSA over the past ten months, in attempts to enforce the rate restoration program that the group launched in January. While previous GRIs have resulted in increased rate levels for periods, the carriers have yet to achieve their goal of a sustained increase of USD 300 per 40' container by the end of 2014.
The 12 members of the TSA are APL, China Shipping, CMA-CGM, Cosco, Evergreen, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, “K” Line, Maersk Line, MSC, NYK, OOCL, Yang Ming and Zim.
SPARX logistics will continue to monitor this situation and keep our customers apprised of the latest developments. If you have questions or concerns regarding specific shipments, please contact your SPARX representative.