Maersk will reportedly complete its plan to leave the Transpacific Stabilization Agreement (TSA). The TSA, as the name suggests, has sought to maintain stability in rates. It has come under pressure from the U.S. FMC which wants carriers to either be in an alliance (Maersk is in 2M) or a TSA-type arrangement but not both. All but one of the TSA members are in an alliance already. In any event the TSA has been relatively ineffective, with China-to-U.S. west coast rates having fallen 21% year-to-date vs. 6% for all China outbound routes. It is also a more volatile route, averaging a 2.1% w...