ASIA/CANADA CARRIERS TO RAISE EASTBOUND RATES AGAIN
Shipping lines of the Canada Transpacific Stabilization Agreement have announced an increase in eastbound freight rates on Aug. 15, only one month after the previous increase.
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.
The Asia/Canada carrier group had advised an identical set of rate increases that were planned to be implemented on July 15. It had earlier also announced rate increases of $300 per 20-foot container and $400 per 40-foot box, effective May 1.
The carrier group did not say whether the last two rate rises were implemented in full.
“As cargo growth in the Asia/Canada freight market remains strong, with ships running at or near full levels, container lines are moving forward with the next phase of their 2002 revenue recovery program,” the Canada Transpacific Stabilization Agreement said.
As with previous rate rises this year, Canada Transpacific Stabilization Agreement lines said the increases “support the objectives of restoring severely depressed rates to their approximate 2001 levels, while helping to assure service levels and equipment availability during the strong peak season.”
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.