WTSA to raise `protein' rates on US-Asia shipments-Logistics

Shipping lines participating in the Westbound Transpacific Stabilisation Agreement (WTSA) have announced that they will be increasing freight rates for refrigerated shipments of beef, pork and poultry transported between the US and Asia.

From July 1, WTSA shipping lines will raise the so-called "protein" rates by US$400 per FEU for port-to-port cargo, and by $600 per FEU for inland point and minilandbridge intermodal shipments. For rates constructed as a port-to-port rate plus inland add-on, the water portion will be raised by $400 and the inland add-on by $200, a statement issued on behalf of members lines said.

Local shipments to Busan will see another US$150 per FEU added to existing inland add-on charges, or to through rates, on top of the overall increase described above. For all other inland Korea destinations the additional charge will by $400 per FEU.

Finally, in cases where carriers provide US west coast container freight station (CFS) services to exporters for frozen cargo, the west coast CFS charge will be raised to US$550 per FEU.

WTSA members include APL, HMM, Cosco Container Lines, "K" Line, Evergreen Marine Corp., NYK Line, Hanjin Shipping, OOCL, Hapag Lloyd Container Lines and Yangming Marine.