Trans-Pacific Spot Rates Expected to Rise in October

Members of the Westbound Transpacific Stabilization Agreement (WTSA) accounced earlier this week the recommendation of a general rate increase of $160 per TEU and $200 per FEU on October 1st for all dry commodities to and from all origins and destinations. The WTSA has said that following weakened volume gains, the rates were cut. However now that typically busy trading months coming along, the carriers are looking to make up lost revenue from the prior fiscal quarters. Stay tuned.

WTSA members include: Cosco, Hanjin, Evergreen, OOCL, Hapag-Lloyd, Yang Ming, K Line, Hyundai Merchant Line