Far East to Middle East trade rate restoration on 1 March

The Member Lines of the Informal Rate Agreement (IRA) wish to inform the trade that a rate restoration of USD100/200 per 20'/40'will be implemented with effect from 1 March 2001. This rate restoration is part of an on-going programme to increase freight rates to levels which commensurate with the investments being made in the trade. The economic outlook in the Far East and Middle East areas remains positive, with significant volume growth anticipated throughout the year. The Lines are confident that customers will support this rate restoration, which is absolutely necessary for Lines to continue meeting the high standard of service required of them.