MOL follows TSA transpacific rate hike

MOL follows TSA transpacific rate hike    MOL said Wednesday it will raise rates on eastbound transpacific shipments to U.S. ports starting Jan. 15 to the exact levels put forth by the Transpacific Stabilization Agreement on Tuesday.
   The rate increases are $320 per 20-foot container, $400 per 40-foot container, $450 per 40-foot high-cube container and $505 per 45-foot container for all cargo originating in Asia, Australia, the Middle East and New Zealand. The rate increases mirror rate increases announced by the TSA a day earlier, though the TSA only governs Asia-North America trade. TSA said the hike in January was necessary to generate revenue for lines until 2010-11 rate negotiations occur in spring.
   MOL is no longer a member of the TSA, having left the discussion agreement at the start of 2009 to avoid potential conflicts with a European ban on liner conferences that went into effect in October 2008.
   'Throughout the past year, operating costs have risen as rates on the Asia-to-U.S. trade have stayed too low to maintain a high level of service,' MOL Liner Executive Vice President Tsuyoshi Yoshida said in a statement. 'This increase is necessary to ensure that we are able to continue to provide the service levels our customers have come to expect.'
   Earlier this week, MOL announced it was hiking rates on U.S. reefer export shipments to Asia in January.