Shipping group puts up scrap metal freight rates

Archiv – The Westbound Transpacific Stabilization Agreement (WTSA) has recommended an across-the-board rate increase of US$ 100 per 40-foot container and US$ 80 per 20-foot container for US-Asia shipments of metal scrap. The increase has been accepted by member lines and was slated to take effect on February 15.The Westbound Transpacific Stabilization Agreement (WTSA) has recommended an across-the-board rate increase of US$ 100 per 40-foot container and US$ 80 per 20-foot container for US-Asia shipments of metal scrap. The increase has been accepted by member lines and was slated to take effect on February 15.
WTSA is a US-based voluntary research and discussion forum of 13 major ocean container shipping lines that carry cargo from ports and inland points in the USA to destinations throughout Asia and the Indian subcontinent.
Asian demand for metal scrap increased sharply during 2004 as industrial production soared, and many sectors have encountered shortages of steel, aluminium, copper and other metals. Overall, scrap shipments to Asia grew 20% during the first three quarters of 2004 to nearly 180 000 TEU, from 150 000 FEU during the same period of 2003. Top importer was China with volumes increasing by almost 15 000 TEU, or 12.7%, compared to January-September 2003. Other countries also increased their volumes, including Korea (52%), Taiwan (41%), Hong Kong (33%), Indonesia (244%) and Thailand (320%).