FEFC INCREASES EASTBOUND RATES

FEFC INCREASES EASTBOUND RATES    The carriers of the Eastbound Management Agreement, a division of the Far Eastern Freight Conference, said that they will increase freight rates from northern Europe to Asia by $250 per container, effective Oct. 1.
   The rate rise follows an increase on April 1 and reflects a
higher-than-expected jump in eastbound cargo volumes, the conference said.
   Traffic figures until early May show an increase in eastbound cargoes of about 10 percent, whereas the overall additional ship capacity being added by the FEFC carriers this year will be around 6 percent, the conference said.
   After the October increases, the FEFC carriers do not intend to introduce other general rate increases before April 2001.
   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, NYK, OOCL, P&O Nedlloyd and Yangming Marine Transport.
   The FEFC recently announced an increase in westbound rates from Asia to northern Europe of $350 per TEU, effective Aug. 1.