Transatlantic carriers confirm rate increases for October

Transatlantic carriers confirm rate increases for October    Shipping lines of the Trans-Atlantic Conference Agreement (TACA) confirmed they intend to raise eastbound and westbound rates between North Europe and the United States in October, after they obtained very limited success in their July 1 round of westbound rate increases.
   The carriers are seeking rate increases Oct. 1 of $160 per 20-foot container and $200 per 40/45-foot box eastbound, and $240 per 20-foot container and $300 per 40/45-foot box westbound.
   The TACA conference said the transatlantic trade continues to grow, with 2005 volumes predicted to be up “close to 8 percent eastbound and around 4 percent westbound” when compared to 2004.
   Meanwhile, ship capacity in the transatlantic trade is calculated to be down about 5 percent, TACA said.
   “Operating costs outside of the control of the carriers continue to increase, driving the need to implement a series of tariff rate increases throughout the year,” the conference said.
   TACA carriers are: Atlantic Container Line, Mediterranean Shipping Co., NYK Line, Orient Overseas Container Line, Hapag-Lloyd, P&O Nedlloyd and Maersk Sealand.
   In a separate development, the United States South Europe Conference (USSEC), which covers the Mediterranean part of the transatlantic trade, said Friday it will also increase eastbound and westbound freight rates Oct. 1.
   Its proposed Oct. 1 increases are $200 per 20-foot container and $250 per 40/45-foot box eastbound, and $160 per 20-foot container and $200 per 40/45-foot box westbound.
   USSEC carriers are: Hapag-Lloyd, P&O Nedlloyd and Maersk Sealand.