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REFILE-Transpacific shipping lines back new $400 rate rise
March 14, 2012 / 4:07 PM / 6 years ago

REFILE-Transpacific shipping lines back new $400 rate rise

(Corrects to Wednesday from Thursday in lead paragraph)

COPENHAGEN, March 14 (Reuters) - Transpacific container shipping companies have recommended a further freight rate rise of $400 per 40-foot unit (FEU) to take effect on April 15, their organisation, the Transpacific Stabilization Agreement (TSA), said on Wednesday.

The increase comes just ahead of a previously announced May 1 recommended increase of $500 per FEU for U.S. West Coast cargo and $700 per FEU for all other shipments, the Oakland, California-based TSA said in a statement.

“The recommendation reaffirms the resolve of transpacific container lines to improve Asia-U.S. market rates as they move forward in a new round of contract talks with customers,” the TSA said.

The TSA’s members include Denmark’s Maersk Line, privately owned Switzerland-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China’s COSCO, Korea’s Hanjin Shipping, Taiwan’s Evergreen Marine , and several others.

The TSA calls itself a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the United States. (Reporting by John Acher)

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