Canada Transpacific Stabilization Agreement reduces CAF

MAJOR transpacific shipping lines of the Canada Transpacific Stabilization Agreement (CTSA) has announced a reduction in its currency adjustment surcharge to five per cent since it dipped and rose one per cent from March to May this year.

The member lines of CTSA - APL, COSCO Container Lines, Evergreen, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, NYK Line, OOCL, Yang Ming and Zim Integrated Shipping Services - have agreed to the drop in surcharge effective September, 2010.