[SARA, Far East/South Asia Rate...]

SARA, Far East/South Asia Rate Restoration of USD 50 per TEU

In view of escalating costs and deteriorating freight rates, the
undermentioned Shipping Lines involved in the Far East/South Asia
trade, SARA(South Asia Rate Agreement) have decided to implement a
Rate Restoration of USD 50 per TEU with effect from 1 January 1997.
In order to maintain the current high level of service and to
stabilize freight rates at acceptable levels, they have no option but
to increase existing tariffs by USD 50 per TEU. The increase will be
applied for all westbound cargoes moving from Far East Areas Other
Than Japan to South Asia Areas in cluding India, Pakistan, SriLanka
and Bangladesh.
SARA member lines are APL, EVERGREEN, MAERSK, MOL, NOL, NYK, P&O,
PNSC, SEALAND, UASC.