ASIA/CANADA CARRIERS RAISE EASTBOUND RATES AGAIN

ASIA/CANADA CARRIERS RAISE EASTBOUND RATES AGAIN    Shipping lines of the Canada Transpacific Stabilization Agreement have advised shippers of plans to raise eastbound freight rates on July 15, the second rate increase this year.
   The proposed increase amounts to $225 (U.S.) per 20-foot container, $300 per 40-foot box, $340 per 40-foot high-cube container and $380 per 45-foot container.
   “Healthy cargo growth in the Asia/Canada freight market continues to suggest a strong peak season in the second half of 2002,” the carrier group said. “In view of a surge in trade, container shipping lines need to further restore rate levels, which fell sharply throughout last year.”
   Earlier this year, the Canada Transpacific Stabilization Agreement had announced rate increases of $300 per 20-foot container and $400 per 40-foot box, effective May 1, 2002.
   The carrier group said that the new round of increases will still leave overall freight rates below where they were in early 2001.
   The Canada Transpacific Stabilization Agreement carriers are APL, COSCO, Evergreen, Hanjin Shipping, Hapag-Lloyd, Hyundai, “K” Line, Maersk Sealand, MOL, NYK, Orient Overseas Container Line and P&O Nedlloyd.