CSCL introduces extra rate hike

Shanghai: China Shipping Container Lines Co has said it will raise rates Asia-US rates on the containers by $300 per feu on Jan. 1. This is in addition to the $400 per feu hike that it and other Members of the Transpacific Stabilization Agreement agreed on December 22 to introduce as a voluntary ‘emergency revenue charge’ from January 15 until new contracts for the year come into effect in May. Container lines aim to increase fees in 2010 after a global recession led to at least $20 billion in estimated losses in 2009, according to the TSA, China Shipping Container also raised Asia-Europe rates by $150 per feu on Dec. 15.  [30/12/09]