Transpacific container shippers plan freight rate rise

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Just the day before the EU announced it is to investigate shipping lines for rate increase announcements, perhaps somewhat ironically comes the news that the perfectly legal Transpacific Stabilization Agreement has decided to raise Asia-US freight rates. The raises will see rates increase by $200 per 40-foot container (feu) from December 20 and then by a further $300 per feu from 15 January. The TSA, which is likely to include  some liner names that the EU is investigating, said the raise was necessary as “every carrier is operating at a loss”.