MEMBER lines of the Transpacific Stabilisation Agreement (TSA) will levy a US$600 per FEU general rate increase (GRI) for all origin and destination points as well as a $400 per FEU peak season surcharge ahead of the Chinese New Year cargo surge.

The GRI is part of an effort to reverse erosion brought about by short-term rates in the Asia-US freight market, said TSA executive administrator Brian Conrad.

The peak season surcharge, he added, reflects sustained cargo demand growth heading into Chinese New Year period when many Asian factories close for a week, producing surges in traffic immediately before and after.

"It is critical, after another year of only very slight net gains at best, that carriers shore up rate levels and hold the line on rising costs as we head into a new contracting season and ramp up to meet Lunar New Year seasonal demand," Mr Conrad said.

TSA is a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the US. More information on TSA is available online at www.tsacarriers.org.

TSA members include APL, "K" Line, China Shipping, Maersk, CMA-CGM, MSC, Cosco, NYK, Evergreen Line, OOCL, Hanjin, Yangming, Hapag-Lloyd and Zim.

Source: Shipping Gazette