FEFC announces eastbound rate restoration plan

FEFC announces eastbound rate restoration plan The Far Eastern Freight Conference, which includes most of the major shipping lines in the Asia/Europe trade, has followed up its December announcement by detailing its restoration program for eastbound cargoes, effective March 1.
   For cargo from North Europe, Scandinavia and Baltic areas to Asia, including Japan, the increases are:
   * Freight Any Kind cargo, $40 per container valid until May 31.
   * Waste paper and scrap, $40 per container valid until March 31.
   * Timber/Lumber/Logs, $40 per container valid until March 31.
   * Cargo in reefer containers, $100 per container valid until May 31.
   * Cargo in special equipment (such as open-tops, flat racks), $200 per container valid until May 31.
   For cargo from Mediterranean areas to Asia, including Japan, the increases are:
   * FAK cargo to areas other than Japan, $35 per TEU and $70 per FEU valid until May 31.
   * FAK cargo to Japan, $275 per TEU and $375 per FEU valid until May 31.
   * Waste paper and scrap from Italy, $550 per FEU valid until May 31.
   * Waste paper and scrap from France and Spain, $475 per FEU valid until May 31.
   * Cargo in special equipment, $1,350 per TEU and $2,350 per FEU valid until May 31.
   Member lines of the FEFC are ANL Container Lines, APL, CMA CGM, CSAV Norasia, Egyptian International Shipping Co., Hapag-Lloyd, Hyundai Merchant Marine, 'K' Line, Maersk Line, Mediterranean Shipping Co., MISC Berhad, MOL, NYK, OOCL, Safmarine and Yang Ming.