MEDITERRANEAN SHIPPING JOINS TSA

MEDITERRANEAN SHIPPING JOINS TSA

   Mediterranean Shipping Co., which will introduce its new Asia/U.S.
service April 16, has joined the Transpacific Stabilization Agreement.
   The announcement means virtually every major carrier in the transpacific
trade belongs to the TSA, which allows carriers to discuss trade conditions
and to agree on voluntary rate and service guidelines.
   The TSA and other discussion agreements have been criticized by
shippers, who claim they wield too much market power. The FMC recently
announced it would investigate rate increases imposed last year by
individual TSA members.
   Mediterranean Shipping’s new service will use six ships with capacities
of about 3,000 TEUs. The vessels will call at Los Angeles, Oakland,
Yokohama, Busan, Hong Kong, Chiwan and Shanghai.
   The carrier said its direct calls at the Chinese ports are subject to
approval by the Chinese ministry of communications.