TACA plans further rate increases

TACA plans further rate increases    The Trans-Atlantic Conference Agreement said it will implement rate increases, effective Oct. 1
   * Westbound and eastbound rates will increase $240 per 20-foot container and $300 per 40-foot container, while cargo-rated weight or measure will be $15.
   TACA said westbound 'volumes continue to be strong.' Within the last six to eight weeks, TACA members 'have experienced significant space constraints. It is expected that the fourth quarter will the heaviest of 2004.'
   Eastbound, 'in volume terms, the recovery of the trade continues, with the expectation that the demand for space will similarly step up after the summer,' TACA said in a statement.
   'However, the industry continues to be challenged by the pressures of increased costs on the provision of services, major examples being charter rates, having more than doubled in the last two years, and the cost of container acquisition, which has significantly increased as the result of a worldwide equipment shortage,' TACA said.
   TACA also cited 'a sustained period of eastbound rate decline, making further conference rate restoration measures necessary.'
   TACA members are Atlantic Container Line; Hapag-Lloyd Container Linie, Mediterranean Shipping Co., A.P. Moller-Maersk Sealand, Nippon Yusen Kaisha Line, Orient Overseas Container Line, and P&O Nedlloyd.