ASIAN SHIPOWNERS UNITE TO ADDRESS WORLD TRADE ISSUES

   Eight ocean carriers who are members of the Asian Shipowners Forum and its Stabilization of Trade Committee have formed a cooperative working agreement to exchange information and to reach non-binding agreements on general world trade issues and economic trends affecting the international shipping industry, the general level of rates, rate trends, trade issues before national governments and membership in other agreements and associations.
   The issues range from the technical, such as standards for vessel
crewing and operations to general economic trends such as fiscal and
monetary policies of national governments or international bodies.
   The carriers will also address trade growth trends, trade and cargo
flows, vessel overcapacity and undercapacity.
    General rate levels, charges and surcharges are also on the carriers’
discussion agenda.
    Members of the agreement are COSCO Container Lines, Ltd., Evergreen Marine Corp., Hanjin Shipping, Hyundai Merchant Marine, "K" Line, Mitsui O.S.K. Lines, NYK Line and Yang Ming Marine Transport.