The Transpacific Stabilisation Agreement (TSA) has urged container shipping companies to raise Asia-US freight rates by at least US$600 per 40-foot container from 1 August, reports Reuters.
The US$600 minimum rate increase would encourage investment, cover rising inland transport and cargo-handling costs and enable carriers to expand their services, said TSA executive administrator Brian Conrad in a statement.
According to TSA, the recommended rate increase comes after a sustained third-quarter demand for cargo.
Members of TSA, a research and discussion forum for major shipping lines, include Maersk Line, CMA CGM, COSCO, Mediterranean Shipping Company and OOCL.
