Asia's shippers have reacted with shock to the imposition of an emergency revenue charge that lines on the transpacific began collecting today.
The ERC applies to shippers who have binding service contracts with Transpacific Stabilisation Agreement (TSA) member lines and ranges from US$320 per TEU to $505 per 45-foot container.
"We are astounded by TSA's planned ERC," said Asian Shippers' Council convenor Willy Lin.
"What good are service contracts if shipping lines can just alter them without proper consultation with shippers?" he asked.
The surcharge received will help carriers on the trade recover revenue before the next service contracts begin in May and received unanimous support from TSA member lines.
The TSA guidelines recommend an emergency rate recovery of US$320 per TEU, $400 per FEU, $450 per high-cube FEU and $505 per 45ft container over and above existing surcharges, adjustment factors and general rate increases on the transpacific trades. |