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Hong Kong-Los Angeles/Long Beach rate holds steady at US$1,725/FEU
TRANSPACIFIC spot rates were steady this week as Drewry's Hong Kong-to-LA benchmark touched US$1,725 per FEU, the first week without declines since November 19, after which rates fell 18.8 per cent, or $400 per FEU.
Those declines prompted the Transpacific Stabilisation Agreement (TSA) to announce one of its biggest general rate increases in the history of the quasi conference - $1,000 per FEU to be levied December 15.
Dropping rates, combined with heightened operational costs due to congestion at North American west coast ports, have resulted in financial losses for carriers, said Newark's Journal of Commerce.
A number of carriers have added port congestion surcharges - $800 per TEU and $1,000 per FEU - for LA-Long Beach, on top of the general rate increase.
Those declines prompted the Transpacific Stabilisation Agreement (TSA) to announce one of its biggest general rate increases in the history of the quasi conference - $1,000 per FEU to be levied December 15.
Dropping rates, combined with heightened operational costs due to congestion at North American west coast ports, have resulted in financial losses for carriers, said Newark's Journal of Commerce.
A number of carriers have added port congestion surcharges - $800 per TEU and $1,000 per FEU - for LA-Long Beach, on top of the general rate increase.
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