The 15 TSA members, which include Orient Overseas Container Line, Cosco Container Lines, China Shipping Container Lines and Maersk Line, control about 85 per cent of the freight transported from Asia to the US. Members of the WTSA, which has seen membership drop to eight members from 10, including OOCL, Cosco and Evergreen Line, ship about 60 per cent of the freight from the US to Asia.
The move will allow the Transpacific Stabilization Agreement to join forces with the Westbound Transpacific Stabilization Agreement.
Carrier-line members of the TSA and the WTSA are banned from colluding to fix freight rates under US antitrust laws, but the two groups can set voluntary rate guidelines and make recommendations about how much carriers can raise rates and other charges.