TSA member Hanjin
As transpacific container lines continue to report serious financial losses and major service consolidations, member carriers in the Transpacific Stabilization Agreement (TSA) have adopted voluntary guidelines for the upcoming service contracting season aimed at substantially restoring rates closer to 2008 levels. The guidelines represent an effort not only to reverse a sharp decline in rates during early 2009, but also to fully recover volatile equipment and fuel-related costs. … The top 17 global container lines lost an estimated cumulative US$6 billion in the first half of 2009 alone, with many forced to seek fresh capital in financial markets or in some cases government aid in order to stay afloat.
