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.

   (Source: American Shippers)