FEFC RAISES EUROPE/ASIA RATES

   The Far Eastern Freight Conference said that it will increase rates in
July and in October for shipments from North Europe to Asia.
   On July 1, rates will go up by $150 per container, irrespective of
container size. This will be followed by a rate increase of $300 per
container on Oct. 1.
   A spokesman for the Asia/Europe conference said that the trade to Asia
has continued to recover, with volumes increasing by about 20 percent at
the end of the first quarter.
   Following the two rate hikes, conference carriers don’t expect to
increase rates again before April 2000, unless there are unforeseen
developments, the conference said.
   Rates from Europe to Asia dropped sharply last year as a result of the
Asian crisis.