ASIA/U.S. AND ASIA/CANADA CARRIERS EXTEND PEAK SEASON CHARGE UNTIL END OF YEAR

ASIA/U.S. AND ASIA/CANADA CARRIERS EXTEND PEAK SEASON CHARGE UNTIL END OF YEAR    Shipping lines of the Transpacific Stabilization Agreement in the Asia-to-U.S. container trade and of the Canada Transpacific Stabilization Agreement covering the Canada-to-Asia will extend the duration of their “peak season surcharge” until Dec. 31.
      The $300 per 40-foot container surcharge was introduced on June 1 in the Asia-to-U.S. trade, and was originally due to end at the end of September. The Transpacific Stabilization Agreement carrier group first extended the duration of the surcharge until Oct. 31. Last week, the carriers adopted a joint recommendation to extend it again until Dec. 31.
   The surcharge is a premium intended to cover higher equipment positioning, vessel chartering, and other costs associated with the summer-fall peak season.
   In previous years, the surcharge has been applied from July 1 to Oct. 31, but this year’s transpacific shipping season has been affected by advance shipments, the U.S. West Coast port lock-outs and strong volumes.
   In the trade lane from Asia to Canada, the $400 per 40-foot container peak season surcharge will also be extended through Dec. 31.
   “Shipping lines in the Canada Transpacific Stabilization Agreement, a carrier discussion forum, said sustained third quarter economic growth led by strong consumer spending, in both Canada and the U.S., is the primary contributor to the extended peak season,” a spokesman for the carrier group said.
   The carriers of the Transpacific Stabilization Agreement are: APL, CMA CGM, COSCO Container Lines, Evergreen Marine, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, “K” Line, Maersk Sealand, MOL, NYK Line, Orient Overseas Container Line, P&O Nedlloyd and Yang Ming Marine.
   The members of the Canadian Transpacific Stabilization Agreement are: APL, COSCO Container Lines, Evergreen Marine, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, “K” Line, Maersk Sealand, MOL, NYK Line, Orient Overseas Container Line and P&O Nedlloyd.