Asia-U.S. shpping route pricier by the minute

The Asia-U.S. route is the world’s biggest shipping route, and it’s becoming pricier by the minute. As shipping lines negotiated contracts in April, observers expected sharp increases. Members of the Transpacific Stabilization Agreement, or TSA, a 13-line consortium, were advised to boost rates by $285 per 40-foot container. The TSA estimates volume between Asia and the U.S. will rise more than 10% this year, and that’s on top of 2004’s 14.4% rise.