A group of container shipping lines serving the Pacific Rim/West Coast routes, have announced plans to hike freight rates for lumber, pulp and kraft linerboard, effective Oct. 1.
Members of the Westbound Transpacific Stabilization Agreement recommend that starting Oct. 1 lumber rates be increased by $200 per 40-foot container, and wood pulp and KLB rates by increased by $75 per 40-foot container.
Commodities falling under the categories increase wood pulp in rolls and bales; paper and paperboard in rolls or in pallet or skid-sized sheets; liquid or granular by-products from pulping and papermaking; engineered wood products; mil carton stock; kraft linerboard; and newsprint.
In explaining the decision to raise prices, the WTSA said that forest product freight rates overall have not kept pace with those of other cargo segments over the past several years. Several past increases have been postponed in light of foreign sourcing competition, environmental restrictions, mill overcapacity and other market factors limiting trade.
The WTSA is made up of 13 container shipping lines serving the trade from ports and inland points in the U.S. to destinations throughout Asia. Members of the WTSA include: APL, China Shipping Group; COSCO Container; Evergreen Marine; Hanjin, Hapag Lloyd Container, Hyundai Merchant Marine Co; K-Line; Mitsui OSK Lines; NYK Line; P&O Nedlloyd Ltd.; and Yangming Marine Transport.Get curated news on YOUR industry.
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