Ocean shipping rates to Far East still falling

The apparel industry is enjoying a reduction in cargo shipping rates from the Far East to the West Coast. American President Lines broke with the rate-setting cartel, Asia North America Eastbound Rate Agreement, and offered lower rates. Eight other carriers followed their lead. In June 1996, the price has been cut by more than half from the May 1995 rate.
WASHINGTON (FNS)--Rates for apparel and textiles shipped to the U.S. from the Far East have taken another substantial plunge, thanks to mounting competition among warring ocean carriers. 'We have better [...]