FEFC INCREASES ASIA-TO-EUROPE RATES BY $350

FEFC INCREASES ASIA-TO-EUROPE RATES BY $350    The carriers of the Asia Westbound Rate Agreement, a division of the Far Eastern Freight Conference, said that they will increase rates from Asia to northern Europe by $350 per TEU on Aug. 1.
   The FEFC had announced last October a preliminary plan to lift rates by $250 in August, but revised the figure upwards because of a strengthening westbound market, said Bob Dowse, FEFC conference secretary.
   Traffic volumes from Asia to Europe were up by 10 percent in the first quarter, compared to the same period of 1999.
   The rate increase will not apply to shipments from Japan to Europe, which are covered by a different division of the FEFC conference.
   The FEFC said that it will also increase rates for certain customers by more than $350 per TEU “to remove certain rating anomalies.”
   The carriers of the FEFC are APL, CMA-CGM, DSR-Senator Lines, Hapag-Lloyd Container Line, Hyundai Merchant Marine, “K” Line, Maersk Sealand, Malaysia International Shipping Corp., Mitsui O.S.K. Lines, National Shipping Co. of Saudi Arabia, NYK, OOCL, P&O Nedlloyd and Yangming Marine Transport.