GCTL8.com (FocusAsia Media Ltd)

HONG KONG, Jan 16 (FAM) – Container shipping lines in the Transpacific Stabilization Agreement (TSA) have recommended $600 per 40-foot container (FEU) rate increases on March 1, 2017.

The increases are intended to counter the erosion in market rates last year. Freight rates for containerized shipments from China to the West Coast of the U.S. fell by 6.6% and to the East Cost by4.9% respectively. TSA indicated that stable, compensatory rate levels are key to maintaining service quality after the Chinese Spring Festival which will end in early February.