FAR EAST/MEDITERRANEAN CONFERENCE RAISES RATES

FAR EAST/MEDITERRANEAN CONFERENCE RAISES RATES

FAR EAST/MEDITERRANEAN CONFERENCE RAISES RATES

    The Mediterranean/Far East Conference confirmed a plan to increase
westbound and eastbound rates with effect from today (July 1).
    From Asia to the western and eastern Mediterranean, rates are
increasing by $300 per 20-foot container or $600 per 40-footer.
    From the western Mediterranean to Asia, rates are going up by $150 per
box, irrespective of container size.
    Eastbound rates from the eastern Mediterranean to Asia remain unchanged
because of the poor economic situation in the eastern Mediterranean, a conference carrier
executive said.
    The members of the conference are CMA-CGM, DSR-Senator, "K"
Line, Maersk, Malaysia International Shipping Corp., Mitsui O.S.K. Lines, NYK, P&O
Nedlloyd, Sea-Land Service and Yangming.