Container lines agree to raise Asia-US rates

[COPENHAGEN] Container shipping lines have agreed to raise Asia-US freight rates by US$300 per 40-foot container (FEU) to west coast ports of the US and by US$400 to all other ports in the US from May 15.

The increase was agreed by companies in the Transpacific Stabilisation Agreement (TSA) which also adopted a US$400 per FEU peak season surcharge effective on June 15, the TSA said in a statement.

The TSA groups 15 of the world's biggest container shipping lines, including Denmark's Maersk Line, a unit of AP Moller-Maersk, privately owned Swiss-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China's Cosco and South Korea's Hanjin Shipping .