Members of the Eastbound Transpacific Stabilisation Agreement have advised that they intend to implement a General rate Increase of US $500 per 40ft container,with effect from 10th August 2009 for all business from Asia to the USA.

Although contracts were only signed in April, the carriers now realise that all the contracts were signed at the "bottom of the market" and are unsustainable.Port to Port freight rates are around US $1000 per 40ft lower than they were in November 2008 and all carriers are reporting massive losses in the first quarter of 2009.