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WTSA sets rates for commodities

The Westbound Transpacific Stabilization Agreement (WTSA) announced in December its intention to establish minimum rates for hay, and to increase rates on scrap metal, moving in the trade lane from the US to Asia. The effective date for hay minimum rate setting was January 1, 2002.

WTSA lines said they will individually implement, in their tariffs and service contracts, minimum rates to Asia via the US West Coast, in the amount of US$500 per 40-foot container with the exception of US$600 via Portland.

The above minimum rates are effective through March 31, 2002, and subject to further increase on April 1, 2002.

Rates for metal scrap from current US origin points will be increased effective January 1, 2002. The form of increase and specific amounts will be established and made available by individual carriers.