Surcharge rates cut by TWRA

The Transpacific Westbound Rate Agreement - or TWRA - is to reduce its currency and fuel charges on shipments from the United States to Asia from July.

The agreement will lower its currency adjustment factor surcharge from 42 per cent to 38 per cent for cargo to Japan, from 10 per cent to 9 per cent for Taiwan shipments and from 17 per cent to 15 per cent to Singapore.

A 3 per cent adjustment factor surcharge to Korea will be eliminated for the coming quarterly period. The fuel adjustment factor will be lowered from US$140 to $100 per 45-ft and 40-ft container (feu); from $112 to $80 per 20-ft container (teu); from $70 to $50 per vehicle; from $14 to $10 per 1,000 board feet; and from $7 to $5 per metric tonne or cubic metre.