CTSA raises CAF to 8pc for March and April

CONTAINER shipping lines participating in the Canada Transpacific Stabilisation Agreement (CTSA) that covers the trade from northeast and southeast Asia to Canada have announced that their currency adjustment factor (CAF) will be raised to eight per cent from March 1.


The CAF was last increased to seven per cent on December 1 and remained at the same level until the end of February.


The CAF for April will stay at eight per cent until further notice. The CTSA generally announces the CAF each month for the coming month.


The CAF was six per cent in November last year. The CAF applies from all origins, including Japan and mainland China, a statement from the group said.


Member shipping lines are American President Lines (APL), Cosco, Evergreen, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, NYK Line, Orient Overseas Container Line (OOCL), Yang Ming Line and Zim Integrated Shipping Services.
(Source:http://www.schednet.com)