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“Emergency Revenue Charge” on Asia-U.S. Lanes Announced
The members of the Transpacific Stabilization Agreement (TSA) have announced plans to implement an “emergency revenue charge” (ERC) on Asia- U.S. shipments in an attempt to stem continued losses.
The TSA has adopted the following voluntary guidelines, effective January 15, 2010 until the new contract season: $320.00 per 20’; $400.00 per 40’; $450.00 per 40’HC; $505.00 per 45’.
Major Transpacific carriers are estimated to lose $20 billion this year as the global recession dampened demand for shipments. Container lines have parked vessels and slashed sailings in a bid to revive rates. The emergency revenue charge is proposed as a temporary measure, distinct from a previously announced general rate increase.
Members if the TSA include China Shipping, COSCO, CMA CGM, Maersk, APL, Hapag-Lloyd, Hyundai Merchant Marine, Evergreen, K-Line, NYK, OOCL, Yang Ming, MSC, and Zim.
For more information, see http://www.joc.com/node/415310, contact your CVI customer service representative, or e-mail Josef Fellhofer at jfellhofer@cvinternational.com.
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