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ANZDL AND FESCO TO EXCHANGE SPACE IN U.S./AUSTRALIA/NEW ZEALAND TRADE

ANZDL AND FESCO TO EXCHANGE SPACE IN U.S./AUSTRALIA/NEW ZEALAND TRADE

   Australia-New Zealand Direct Line and FESCO are planning to exchange space in the trade between the U.S. West Coast and Australia/New Zealand.

   The two carriers currently operate competing, direct weekly services in the trade, which has witnessed sharp falls in freight rates over the past year.

   ANZDL and FESCO have filed an agreement with the Federal Maritime Commission to grant them the authority to charter space to one another in the U.S. West Coast/Australia/New Zealand trade.