FEFC RAISES ASIA/EUROPE WESTBOUND RATES
The Asia Westbound Rate Agreement, a regional unit of the Far Eastern
Freight Conference, said that it will increase rates next April and August as part of a
rate restoration program for the year 2000.
On April 1, westbound rates from Asia except Japan to northern Europe will
increase by a minimum of $150 per TEU.
On Aug. 1, rates from Asia except Japan to northern Europe will rise by $250
per TEU.
The conference said that its shipping line members will reflect these rate
rises in their year 2000 freight contracts when current contracts do not expire at the
same time as the proposed dates of the increases.
An increase in rates is necessary to assist conference carriers’ endeavours
to meet the service requirements of their customers, a spokesman for the conference said.
Asia Westbound Rate Agreement carriers are APL, Mitsui O.S.K. Lines, CMA CGM,
National Shipping Company of Saudi Arabia, DSR-Senator, NYK, Hapag-Lloyd, OOCL, Hyundai
Merchant Marine, P&O Nedlloyd, "K" Line, Maersk Line, Sea-Land Service,
Yangming Marine Transport and Malaysia International Shipping Corp.
The FEFC has not yet announced rate increases for next year for shipments
from Japan to northern Europe.