WTSA to adjust commodity rates to Asia
'''Member shipping lines of the Westbound Transpacific Stabilization Agreement say they will raise rates for major commodities to Asian markets this fall.
''''Effective Sept. 1, wastepaper rates via U.S. West Coast ports will increase $100 per 40-foot container. Rates for soybeans will increase $200 per FEU and $160 per TEU via all U.S. ports and by $300 per FEU and $240 per TEU for inland locations. Metal scrap rates will increase $100 per FEU.
''''Effective Oct. 1, rates on hay, resins, chemicals, plastic scrap, wood pulp and wastepaper via U.S. East Coast ports will increase $100 per FEU.
''''Effective Jan. 1, rates on animal feed, fish meal and pet food will increase by $100 per FEU and $80 per TEU from all U.S. ports and $200 per FEU and $160 per TEU from inland locations.
''''The carriers said that the affected commodities are among the lowest-rated in the trade and rates have fallen by 50 percent or more over the past four years.
''''Proportionate increases will be adopted for shipments moving in other size equipment or rated by weight or measure, the WTSA said.
''''Members of the discussion agreement are American President Lines Ltd., COSCO Container Lines Ltd., Evergreen Marine Corp. (Taiwan) Ltd., Hanjin Shipping Co. Ltd., Hyundai Merchant Marine Co. Ltd., Kawasaki Kisen Kaisha Ltd., Maersk Sealand, Mitsui O.S.K. Lines Ltd., P&O Nedlloyd Ltd., Nippon Yusen Kaisha, Orient Overseas Container Line Inc., and Yangming Marine Transport Corp.