Canadian westbound Atlantic lines plan rate increases
The Continental Canadian Westbound Freight Conference and Canadian North Atlantic Westbound Freight Conference said they plan three general rate increases for April 1, July 1 and Oct. 1.
On April 1, the increase for westbound cargoes will be $200 per 20-foot container and $250 per 40-footer for general cargo; and $250 per 20-foot container and $300 per 40-footer for temperature-controlled cargo.
The amounts for the July 1 and Oct. 1 rate increases will be announced later in 2004.
The conferences said the increases 'are part of the continuing need for the restoration of viable rates, balanced against the level of services required by the trade.'
In addition, the two conferences, along with the Canada-United Kingdom and Canadian Continental Eastbound Freight Conferences, said they will set their currency adjustment factor at 9 percent for eastbound and westbound continental and U.K. cargo, effective Feb. 1.
The changes are being made due to the strengthening of the euro and pound currencies, the conferences said.
Members of the conferences are Canada Maritime, Hapag-Lloyd, Cast, and Orient Overseas Container Line.