NON-CONFERENCE ATLANTIC LINES JOIN NEW NAA AGREEMENT

NON-CONFERENCE ATLANTIC LINES JOIN NEW NAA AGREEMENT

   Virtually all the traditional non-conference Atlantic carriers have joined the new North Atlantic
Agreement, which will succeed the Trans-Atlantic Conference Agreement.

   The agreement, filed with the Federal Maritime Commission mid-February, shows that APL, Atlanticargo, COSCO, Independent Container Line, "K" Line, Lykes Lines and Yangming have joined the new conference. These seven carriers have traditionally operated as outsiders in the transatlantic.

   DSR-Senator, Hanjin Shipping, Hyundai and TMM-Mexican Line, which were initially members of TACA but subsequently resigned, have also joined the North Atlantic Agreement.

   All the current members of TACA will continue to operate as conference lines within the new NAA. The TACA lines are currently ACL, Hapag-Lloyd, Mediterranean Shipping Co., A. P. Moller/Maersk, NYK, OOCL, P&O Nedlloyd, POL-Atlantic and Sea-Land Service.

   The NAA’s large membership of 20 carriers will give the new conference a share of around 80 percent of the northern Europe/U.S. trade.

   Only three transatlantic lines have not joined the NAA — Evergreen, Mitsui O.S.K. Lines and Cho Yang –.