Dollar weakness forces adjustments

THE Trans-Pacific Westbound Rate Agreement (TWRA) will raise its currency adjustment factor (CAF) surcharge on October 1 to account for the continued weakness of the US dollar against major Asian currencies.

It will also reduce its fuel adjustment factor (FAF) following recent easing of loading prices for marine fuels.

The CAF on cargo destined for Japan will rise from 10 to 12 per cent.

The Singapore CAF will increase from 16 to 17 per cent and South Korean CAF from five to six per cent.

The Taiwan CAF will remain unchanged at 11 per cent.

The FAF will be lowered to US$80 per 40-foot and 45-foot container, $64 per 20-foot container, $40 per vehicle rated on a per unit basis, and $4 per revenue tonne.