U.S.-Asia Container Lines to Increase Agri-Products Rates

Oakland, CA / February 27, 2007 - Member shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) have agreed on the need to raise rates on dry agricultural products cargoes as part of the WTSA’s 2007 revenue and cost recovery program. Lines said the increases are needed to address ongoing higher cargo handling, equipment and other operating costs in the transpacific market.

Effective April 1, 2007, individual member carriers intend to raise agri-products rates by US$100 per 40-foot container (FEU) and $80 per 20-foot container (TEU) on a list of cargoes that includes soybeans and related products; cotton by-products; grain and grain products; and peas beans and lentils; meal; flour; corn products; starches; animal feed (except pet food); seeds, and food additives.

WTSA is a voluntary discussion and research forum of 10 major container shipping lines serving the trade from ports and inland points in the U.S. to destinations throughout Asia.

WTSA members include:

American President Lines, Ltd.
COSCO Container Lines, Ltd.
Evergreen Marine Corp. (Taiwan), Ltd.
Hapag Lloyd Container Line
Hanjin Shipping Co., Ltd.
Hyundai Merchant Marine Co., Ltd.
Kawasaki Kisen Kaisha, Ltd. (K Line)
Nippon Yusen Kaisha (N.Y.K. Line)
Orient Overseas Container Line, Inc.
Yangming Marine Transport Corp.



Contact: Niels Erich
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