CTSA seek eastbound rate hike
Member ocean carrier of the Canada Transpacific Stabilization Agreement said they are instituting a general rate increase 'in an effort to partially reverse the recent erosion of freight rates in the Asia-Canada market.'
The increase will be $300 per TEU, $400 per 40-foot equivalent unit, and $500 per high-cube FEU, effective Aug. 1. The increase will apply to all inland point intermodal, mini-landbridge and East Coast all-water cargo moving on CTSA member lines' vessels.
CTSA members are APL, COSCO Container Lines, Evergreen, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, 'K' Line, NYK Line, OOCL, Yang Ming and Zim Integrated Shipping Services.