CTSA to levy second rate hike, this time from Canada to Asia

THE 10 member carriers of the Canada Transpacific Stabilisation Agreement (CTSA) are expected to raise transpacific rates US$400 per FEU for cargo from Vancouver to the Far East and $500 per FEU for all-water shipments from the east coast to Asia.
"Continued depressed rate levels in the Asia-Canada market have made it necessary for major container lines to implement a second general rate increase in advance of upcoming tariff and contract rate increases," said the CTSA statement.
CTSA carriers have been raising rates the New Year. This round of hikes exceeds those demanded before. CTSA and TSA carriers advised member lines to charge an emergency revenue charge beginning January 15. The TSA charge was $320 per TEU, $400 per FEU, $450 per 40-foot high-cube and $505 per 45-footer.
CTSA member lines include APL, Cosco, Evergreen, Hapag-Lloyd, Hyundai, "K" Line, NYK, OOCL, Yang Ming and Zim. All are TSA members too.