WTSA Hiking Freight Rates

Container shipping lines operating from the United States to Asia have reaffirmed plans to raise dry cargo rates across the board by $200 per 40-foot container, with proportionate increases for cargo otherwise rated. The move is part of an effort to stem significant revenue losses. The increase took effect Nov. 1 for shipments of recovered fiber.

The WTSA stressed that the planned increases are not related to recent costs incurred by labor difficulties on the West Coast, but rather reflect sharp declines in westbound transpacific freight rates during the past year, to levels that are non-compensatory in light of high variable operating expenses, capital investment and infrastructure costs