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WTSA Calls for Rate Increase

Going into effect on July 1, 2012 The Westbound Transpacific Stabilization Agreement (WTSA) has proposed increasing freight rates by $50 per 40-foot container (FEU) from California ports and $100 per FEU for all other intermodal and all-water shipments, with proportionate increases for other equipment sizes and cargo otherwise rated.The WTSA is proposing the rate increase to go into effect on July 1, 2012.Brian Conrad, WTSA's executive administrator, says the increases are part of an ongoing incremental strategy throughout the year to restore rates to compensatory levels that will adequately meet service demand, attract container equipment into the trade, and reverse steep declines in revenues and carriers' overall financial health.Conrad adds that increases are primarily focused on commodity segments where rates have fallen the farthest and/or have not taken increases in previous rounds.WTSA is a voluntary discussion and research forum of 10 ocean and intermodal container shipping lines serving the trade from ports and inland points in the U.S. to destinations throughout Asia. WTSA members include APL, Hyundai Merchant Marine Co., COSCO Container Lines., K Line, Evergreen Line, N.Y.K. Line, Hanjin Shipping Co., OOCL, Hapag Lloyd AG and Yang Ming Marine Transport Corp.Source: Recycling Today

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Hapag-Lloyd sees end to shipping companies price war

Freight rates are expected to rise Hapag-Lloyd expects the price war among global container shipping companies to end and freight rates to rise, not expecting a return to "satisfactory" results before the third quarter."We are seeing for the first time a clear upward trend," Chief Executive Michael Behrendt told journalists.Hapag-Lloyd, partly owned by TUI AG, will charge $412 more for a standard container from early April, he added."Satisfactory" results could be expected in the third quarter, Behrendt said.Margins in the shipping industry came under pressure last year when the two largest companies Maersk and Mediterranean Shipping Company (MSC) undercut each other on freight rates. High fuel prices have squeezed margins further.Germany travel and tourism group TUI AG in February said it may try again to float its stake in Hapag-Lloyd as part of its bid to exit completely from the shipping business, after it failed to agree a full sale to the container shipper's other shareholder.Hapag CEO Behrendt said that reporting good results over two quarters was a precondition for trying to go public again after an IPO was called off last year."We have to show investors that we are back to normal," CEO Behrend said.Source: Reuters

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