The carrier members of the Transpacific Stabilization Agreement (TSA) have announced future general rate increases (GRIs) next month. Beginning on October 1st, member carriers in the TSA’s westbound section will be seeking to establish new rates. They will target all dry commodity segments which the forum said would translate into “modest increases in most cases”, with higher proportionate increases for the most depressed rates.
No numbers were given in an announcement by the TSA, but the forum of major carriers said the fourth quarter would see greater demand for westbound container cargo, and recommended its members to levy the increases. Different source have cited GRIs of $540 per TEU, and $600 per FEU from several of the member-carriers’ websites. TSA-Westbound lines say they expect to follow with similar, gradual increases in November and December of this year. Stay tuned as more develops.