WTSA lines adopt rate increases for cotton

WTSA lines adopt rate increases for cotton    Ocean carriers members of the Westbound Transpacific Stabilization Agreement have adopted a schedule of voluntary guideline rates for cotton, in preparation for the upcoming shipping season that begins in December.
   WTSA members said they intend on an individual basis to raise existing port-to-port cotton rates by $200 per 40-foot container, effective Dec. 1 through Nov. 30, 2004.
   Freight rates for cotton have not increased in more than two years, WTSA said in a statement.
   The new guideline base port rates recommended by WTSA carriers range from $700 to $1,300 per 40-foot container, depending on destination, “and are viewed as minimum rates,” WTSA said.
   “Additional outport rates are to be constructed from the base port rates, plus standard add-ons,” it explained.
   Final rates and terms will be determined by individual carriers in negotiations with customers.
   Based in Oakland, Calif., WTSA is a voluntary discussion and research forum for 13 shipping lines active between Asia and the U.S. Members are American President Lines, China Shipping, COSCO Container Lines, Evergreen Marine, Hanjin Shipping, Hapag Lloyd, Hyundai Merchant Marine, “K” Line, Mitsui O.S.K. Lines, NYK Line, OOCL, P&O Nedlloyd and Yangming Marine.