CTSA to lower currency rate in August
Member lines of the Canada Transpacific Stabilization Agreement will lower the currency adjustment surcharge they assess on shippers as of Aug. 1, the carriers said Wednesday.
The fee will drop to 9 percent from 10 percent. CTSA, whose lines provide service between Asia and Canada, reviews its currency surcharge monthly, typically one month ahead of when the rate will go into effect.
CTSA member lines are APL, COSCO Container Lines, Evergreen, Hapag-Lloyd, Hyundai Merchant Marine, 'K' Line, NYK Line, OOCL, Yang Ming and Zim Integrated Shipping Services.