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| 40% Rate Hike on Containers from Asia | ||
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Published 20030418 |
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Due to a significant rate hike to begin May 2003 for ocean cargo
destined for the United States, the arrival of containers from
the Asia is dramatically increasing at West Coast Ports.
Tacoma registered a 47.6 percent increase in inbound loaded containers compared to the same month the previous year. Los Angeles saw a 34.2 percent increase in containerized imports in March. Oakland had a 15.3 percent increase in cargo volume. Containerized imports in Seattle increased 13 percent from March 2002. Shipping lines are proposing almost a 40 percent increase in cost for ocean containers from Asia. This means that there would be a $700 increase for a 40 foot container, pushing the average for shipping a forty footer to more than $2000.00. Shipping lines are reported to be getting what they are asking for. This rate advance for US bound ocean vessels can be explained by the fact that production in mainland China is sharply increasing as U.S. Corporations continue to look for lower labor costs. The rate increase, expected to start in May, means that April will also see a significant increase in container volume arriving on the West Coast. |
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