TACA announces eastbound rate hikes
The Trans-Atlantic Conference Agreement members said they'll increase rates for eastbound cargo, effective Oct. 1.
Rate increases for eastbound cargo moving in dry van and temperature controlled containers through Atlantic Coast ports will be $240 per 20-foot container and $300 per 40- or 45-foot container.
Rates for traffic through Gulf and Pacific ports will increases $400 per TEU and $500 per 40- or 45-foot container.
Cargo moving on a weight or measure basis will increase $15.00 per metric ton or cubic meter for cargo leaving Atlantic ports and $25 for cargo leaving Gulf and Pacific coasts.
“Following a recent review of current and projected transatlantic trading conditions, the TACA parties consider that current rate levels are still failing to provide sustainable returns commensurate with services provided,” the conference said in the statement.
“Whilst overall volumes in the westbound trade have underperformed in the first half of 2007 compared to the same period in 2006, eastbound volumes continue to improve. The current demand for eastbound space is rising, vessel utilization remains high and is expected to continue throughout 2007.
“In this prevailing eastbound economic climate the parties consider there is scope for a rate adjustment to bring levels in line with market conditions and will therefore implement an eastbound tariff rate restoration effective from Oct. 1.”
TACA members are Atlantic Container Line, Maersk Line, Mediterranean Shipping Co., NYK Line, and Orient Overseas Container Line.