Asia/Canada carriers also extend peak-season charge duration
Shipping lines of the Canada Transpacific Stabilization Agreement are extending the duration of their $400 peak season surcharge by one month, through Nov. 30, saying congestion delays, imbalances, routing and schedule disruptions add to costs.
The carriers have predicted cargo growth in the Asia/Canada trade of at least 10 percent this year, with the sharpest increases to take place in the third and fourth quarters.
This growth comes on top of record volumes seen in 2003, Canada Transpacific Stabilization Agreement said.
“Terminal and inland transport capacity constraints, at both U.S. and Canadian gateways, have caused particularly serious peak period congestion delays,” Canada Transpacific Stabilization Agreement added.
The Transpacific Stabilization Agreement, which covers the Asia-to-U.S. trade, recently said it would extend its $400-per-40-foot-box peak season surcharge by a month, until Nov. 30, for all-water services from Asia to the U.S. East Coast.