Trans-Pacific Carriers to Increase Westbound Rates

Trans-Pacific ship lines in the Westbound Transpacific Stabilization Agreement (WTSA) have announced rate hikes for 2012.  The WTSA will recommend increases of $50 per 40-foot-equivalent units from Los Angeles, Long Beach, and Oakland and $100 per FEU for all cargo moving via all-water or intermodal service from Pacific Northwest ports, inland U.S. points or the U.S. East and Gulf coasts beginning in the second quarter of 2012 (April 1st).  WTSA lines also confirmed that they will be fully applying higher bunker fuel surcharges on top of these adjusted base rates. The WTSA noted that import containers outnumber exports two to one at this point in time, and carriers are facing higher operation costs and capacity constraints.

WTSA members include: APL, Cosco, Evergreen, Hanjin, Hapag-Lloyd, Hyundai Merchant Marine, K-Line, NYK, Orient Overseas Container Line and Yang Ming.