Arab strife sparks soaring oil, prompting CTSA BAF hike

THE Canada Transpacific Stabilisation Agreement has said it will increase from 20-30 per cent the bunker adjustment factor (BAF) surcharge member lines levy on shipments from Asia to Canada from April.


Having increased the surcharge on January 1, CTSA carriers (APL, Cosco, Evergreen, Hapag-Lloyd, Hyundai, "K" Line, NYK, OOCL, Yang Ming and Zim) now say bunker costs have soared in the course of unfolding North African and Middle Eastern political tensions.


Thus, cargo bound for Canadian east coast ports will face a new bunker surcharge of US$703 per TEU $879 per FEU, $989 per 40-foot high-cube and $1,112 per 45-footer. For Canadian west coast ports, the charge will be $374 per TEU, $468 per FEU, $527 per 40-foot high-cube and $592 per 45-footer.
(Source:http://www.schednet.com)