FEFC ABSORBS ASIA/MEDITERRANEAN CONFERENCE
The Far Eastern Freight Conference, the group of Asia/northern Europe/Asia shipping lines, has absorbed the Mediterranean Far East Conference.
The FEFC has added the former Asia/Mediterranean/ Asia conference as a regional unit.
The Mediterranean Far East Conference, now renamed Mediterranean Rate Agreement, discusses and sets common rates and surcharges from Asia (excluding Japan) to the Mediterranean and from the Mediterranean to Asia (including Japan).
The FEFC now manages four regional units: the Eastbound Management Agreement, the Asia Westbound Rate Agreement, the Japan Europe Freight Conference and the Mediterranean Rate Agreement.
APL, Hapag-Lloyd, Hyundai and OOCL have joined the Mediterranean Rate Agreement. Those carriers already belonged to other regional units of the FEFC.