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| Contact: |
Niels Erich |
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T: (415) 525-4520 |
F: (415) 358-4540 |
E: n.erich@comcast.net |
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| FOR IMMEDIATE RELEASE |
WTSA ADOPTS GUIDELINE JANUARY 1 REFRIGERATED CARGO RATE INCREASE
Operating constraints and competition from other trades are contributing to equipment and other costs.
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Oakland, CA / November 22, 2011
Container lines serving the U.S.-Asia trade are calling for an across-the-board increase in refrigerated cargo rates, to cover higher equipment and operating costs during the traditionally slow season.
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Member carriers in the Westbound Transpacific Stabilization Agreement (WTSA) said the recommended guideline increase of US$300 per 40-foot container (FEU), is to take effect January 1, 2012, and will apply to all commodity segments and origin-destination pairs. WTSA explained that the increase is needed to ensure equipment availability by covering the network costs of redeploying refrigerated containers from other trades.
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Refrigerated equipment, already in limited supply worldwide, tends to be diverted out of the transpacific during winter months in the U.S. That adds to operating costs in serving U.S. export shippers of agricultural and non-agricultural commodities. The problem is compounded when equipment is pulled from more lucrative markets paying higher rates for refrigerated and other specialized equipment.
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WTSA is a voluntary discussion and research forum of 10 major ocean and intermodal container shipping lines serving the trade from ports and inland points in the U.S. to destinations throughout Asia. More information on the Agreement, including guideline rates and charges, can be found at www.wtsacarriers.org.
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| WTSA members include: |
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| APL, Ltd. |
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Hyundai Merchant Marine Co., Ltd. |
| COSCO Container Lines, Ltd. |
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Kawasaki Kisen Kaisha, Ltd. (K Line) |
| Evergreen Line |
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Nippon Yusen Kaisha (N.Y.K. Line) |
| Hanjin Shipping Co., Ltd. |
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Orient Overseas Container Line, Inc. |
| Hapag Lloyd AG |
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Yangming Marine Transport Corp. |
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