Effective	26NOV2025
Filed	26NOV2025
Filing Codes	C

Except as otherwise provided in an individual NSA, or as specified below,
all shipments moving on the applicable rates named in a governed NSA will
be SBJ to the PANAMA CANAL ADJUSTMENT FACTOR (PCAF) provided below, which
charge shall be in addition to all other applicable charges UNTIL SUCH
TIME AS THE RATES IN THE REFERENCED NSA ARE UPDATED TO SPECIFICALLY INCLUDE
OR EXEMPT THE PCAF NAMED HEREIN:
  
The Panama Canal Adjustment Factor named herein does NOT apply on
shipments moving on any applicable rate named in a governed NSAs SBJ to
this Tariff which specifically exempt any or all of the rates named in such
NSA:
   
 1. All LCL rated Shipments moving From/To/Thru United States East Coast
     or Gulf Coast Ports which transit the Panama Canal as part of the
     Ocean Transportation Service provided by Carrier will be SBJ to 
     a PCAF of:
  
        CURRENCY   W, M or W/M,  MINIMUM CHARGE
                   as freighted      PER B/L
       -------------------------------------------
           USD        - 0 -           - 0 -
       -------------------------------------------
  
 2. All FCL rated Shipments moving From/To/Thru United States East Coast
     or Gulf Coast Ports which transit the Panama Canal as part of the
     Ocean Transportation Service provided by Carrier will be SBJ to 
     a PCAF of:
 
     Postponed to be EFFECTIVE 1 January 2026
       CURRENCY    PC20    PC40    PC40B    PC45X   
      --------------------------------------------
         USD        270     300     300      300
      --------------------------------------------
  
 3. EXCEPTIONS:
      NONE CURRENTLY IN EFFECT

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