Pacific Increases US Carrier Rates

20 August 2009 (Last Updated August 20th, 2009 18:30)

Singapore-based Pacific Carriers has announced a hike in westbound freight rates to sustain freight pricing amid a weak westbound Pacific market, the company said. As of 1 September, the Westbound Transpacific Stabilisation Agreement will come into force, which will mean an increase of $

Singapore-based Pacific Carriers has announced a hike in westbound freight rates to sustain freight pricing amid a weak westbound Pacific market, the company said.

As of 1 September, the Westbound Transpacific Stabilisation Agreement will come into force, which will mean an increase of $150 per FEU and $120 per TEU for dry cargo moving from US west coast ports.

A hike of $200 per FEU and $160 per TEU for intermodal shipments through west coast ports or all-water services from the east and gulf coasts to Asia has also been proposed.

The other proposals include a $250 per FEU and $200 per TEU raise on reefers from the west coast and a $300 per FEU and $240 per TEU increase on intermodal and all-water shipments from the east and gulf coasts.