Hyundai raising Canada-Asia rates

Markets

Wednesday, October 10, 2012

Hyundai Merchant Marine said Tuesday it plans to hike rates on Canadian exports to Asia from Dec. 1. The increases, $160 per 20-foot container and $200 per 40-foot container, apply to cargo destined for Japan, China, Korea, Taiwan, Hong Kong, Malaysia, Philippines, Singapore, Thailand, Indonesia, Vietnam and Cambodia. “This general rate increase is necessitated by the fact revenue on export boxes from Canada to Asia is down over 17 percent year-over-year, and the curr...

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