Europe/Caribbean conference revises rate increase upwards

Europe/Caribbean conference revises rate increase upwards    The liner conference of the Europe/Caribbean trade, Association of West India Trans-Atlantic Steam Ship Lines, said that it has revised a planned April 1 rate increase upwards because vessel charter rates have gone up.
   The conference carriers had announced three westbound rate increases for 2004, starting with a 125-euro/$125 per TEU increase on April 1. The rate increase on April 1 will now be 250 euros/$250 per TEU. This will be followed by two further increases on July 1 and Oct. 1, details of which will be confirmed nearer the time.
   “Costs, and particularly charter hire, which have continued into 2004 have led (conference carriers) to reassess the increase required to provide sustainable services to this area,” the conference said.
   The Association of West India Trans-Atlantic Steam Ship Lines carriers are: CMA CGM, Compania Sud Americana de Vapores, H. Stinnes Linien, Hamburg Sud, Hapag-Lloyd and P&O Nedlloyd.