CTSA lines reduce bunker surcharges 66pc over two months

The 11 container shipping lines participating in the Canada Transpacific Stabilisation Agreement (CTSA) that serves the trade between Canada and Asia have announced new bunker surcharges, starting from January 1. A statement issued on behalf of members said that from this date the "Fuel Recovery Charge" will be: US$328 per TEU, $410 per FEU, $461 per 40-foot high cube container, $519 per 45-foot container, and $9 weight/measure adjustment. This represents a 66 per cent decline in bunker surcharges over a two month period, reports American Shipper.

Also in January, the CTSA's currency adjustment factor will be reduced to 0 per cent, and will be applicable from all origins including Japan and mainland China. CTSA members are: APL, Cosco Container Lines, Evergreen Line, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, NYK Line, OOCL, Yang Ming and Zim Integrated Shipping Services Ltd.