Container lines serving the Asia-Canada freight market have adopted a schedule of across-the-board rate adjustments aimed at reversing the steady revenue erosion seen in the trade throughout 2011.
Members of the Canada Transpacific Stabilization Agreement (CTSA) say the rate changes will apply to all coasts, effective by no later than Jan. 1, and are intended to achieve an additional minimum of $400 per 40-foot container.
The proposed rate hikes are similar to those announced recently by the Transpacific Stabilization Agreement, which includes U.S. ports.
“Carriers have experienced sharp revenue declines in the past year, to levels that are no longer compensatory or sustainable going forward given rising cargo handling, inland transport, equipment and other costs,” CTSA said in a statement. “Individual lines will, on a case by case basis, be looking at any opportunities to improve individual rates prior to Jan. 1.”
Canada transpac rates to up by Jan.1
