Container shipping firms serving the US-Asia trade want export customers to pay more in their rate of freight. That is especially so on the westbound routes, according to a release by the Transpacific Stabilization Agreement (TSA).
The current situation sees containers from Asia to the US usually full, while the other-way trip features a substantial number of empty containers which are heading back for another refill for the US market. With current freight rates they barely cover costs. But export numbers are expected to get a big bump in coming months.
The TSA, based in Oakland, California, is a research and discussion forum of 15 major ocean container shipping lines that serve the transpacific trade in both directions.
TSA’s announcement revealed that freight rate increases for the US-Asia journey would begin being phased in from October 1.
During the near-crisis of the West Coast ports labour dispute earlier this year freight rates declined. Now that backlogs are almost gone – and with an export boom anticipated – the TSA says it is time for what should be, initially at least, modest increases.