Date set for rate adjustment

Members of the Asia Westbound Rate Agreement have announced that a rate restoration of US$100 per teu (20 ft equivalent unit) and $200 per feu (40 ft equivalent unit) will be implemented from January 1. In Guangdong, members will implement another charge called the Origin Receiving Charge of $105 per teu and $210 per feu. The members said despite high capacity utilisation in the trade, rates were still at such low levels that lines were not receiving adequate compensation.