Trans-Pacific Rates to Rise With Sept. 1st GRI

On Monday, members of Transpacific Stabilization Agreement (TSA) in the eastbound Pacific will implement another general rate increase (GRI) of $600per FEU, effective September 1st.

Members of the TSA announced a rate restoration program in January, aimed at bringing rates up cumulatively $300 per FEU over the year. As of last week, rates on the Shanghai Containerized Freight Index from Shanghai to the U.S. West Coast are up $294 since Jan. 1, or 16.2 percent. “TSA lines said the planned GRI follows strong cargo demand and high vessel utilization levels in recent months, which forward bookings suggest will continue through September,” the TSA said in Monday’s press release. Stay tuned for regular updates.