Jul.16--THE Transpacific Stabilisation Agreement (TSA) carriers have announced an increase in rates of US$500 per FEU from the first week of August from Asia to US west coast ports and $700 per FEU for cargo bound for the US east coast.

TSA, speaking for its 15 member carriers, said the increases were needed to "stabilise recent volatility, boost rates to better accommodate growing demand and establish a more compensatory baseline for subsequent negotiation of 2013 longer-term contracts."

TSA executive administrator Brian Conrad said: "Carriers across the entire trade are determined to maximise yield from ships they expect to approach full utilisation throughout the summer months."

TSA member carriers include APL, CSCL, CMA CGM, Cosco, Evergreen, Hanjin, Hapag-Lloyd, Hyundai Merchant Marine (HMM), "K" Line, Maersk, MSC, NYK, OOCL, Yang Ming and Zim.

(Source:shippingazette)