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CTSA lines further hike currency adjustment factor to 5pc

MAJOR shipping lines participating in the Canada Transpacific Stabilisation Agreement (CTSA) that covers the trade between northeast and southeast Asia to Canada have announced that the Currency Adjustment Factor (CAF) will be raised to five per cent from January 1.

This comes after the CAF was raised to four per cent on November 1 following an increase to one per cent on September 1.

Said the CTSA statement: "The members will continue to monitor fuel prices and exchange rates and will notify customers of any further adjustments."

Member lines are: APL, Cosco Container Lines, Evergreen, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, NYK Line, OOCL, Yang Ming and Zim Integrated Shipping Services.

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