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Members of the Transpacific Stabilization Agreement are recommending two $600 general rate increases and a $400 peak season surcharge.
Jacksonville, Fla.-based Caribbean Shipping Services operates primarily in the Puerto Rico market, specializing in refrigerated freight forwarding.
Ports plan to submit the agreement to the Federal Maritime Commission in June.
Pasha Group acquired Horizon Line's Hawaii trade lane operations, while Matson took over the ocean carrier’s Alaska business.
The benefits of upsizing are beginning to plateau and require more infrastructure investment, according to a new report by the OECD's International Transport Forum.
Rates on routes from Shanghai to the United States, on the other hand, rebounded from last week, according to estimates from the Shanghai Shipping Exchange.