ATTEMPTS by the Transpacific Stabilisation Agreement (TSA) to recommend a general rate increase of US$400 per FEU produced an increase of $250 per TEU from November 15, the seventh increase in 2013, but remains 14.8 per cent below 2013 start, equivalent to $328.
Drewry Maritime Research says spot rates from Hong Kong to Los Angeles dropped five per cent or $100 per FEU to $1,886 in the week November 27. In the week previous, the Shanghai Shipping Exchange's Shanghai-US west coast spot rate also slipped 1.9 per cent, or $36, to $1,849/FEU.
Pricing declines are expected ahead of TSA's attempts to increase GRI with an additional $200 per FEU from December 20, said Drewry. TSA member carriers will attempt to increase another $300 per FEU as of January 15 following Hapag-Lloyd's increase on the Asia to US trade lane.
