FEFC PLANS EUROPE-TO-ASIA RATE INCREASES
The Far Eastern Freight Conference of Asia-Europe
shipping lines said that it will increase rates to Asia in April.
The conference gave no information on the amount of the rate increases,
saying that it will release details at the end of this month.
The Far Eastern Freight Conference had sought to increase rates from northern
Europe to Asia by $100 per 20-foot or 40-foot container last April.
Eastbound freight rates to Asia have dropped by about 70 percent since early 1997, when
the Asian crisis hit exports to the region.
The members of the northern Europe/Asia section of the conference are APL,
CMA CGM, DSR-Senator, Hapag-Lloyd, Hyundai, "K" Line, Maersk Sealand, Malaysia
International Shipping Corp., Mitsui O.S.K. Lines, NYK, OOCL, P&O Nedlloyd and
Yangming Marine.
Ocean carriers in the trade from North America to Asia have also announced
increases in freight rates to Asia.