Far East lines confirm rate increases

THE MEMBER lines of the South America-SA-Far East conference (Safefcon) have confirmed both general rates restorations (GRRs) and an emergency bunker additional (EBA) for 2004.
This sees a GRR of US$400 per TEU on April 1, and a further GRR of US$200/TEU effective
July 1.
Forty foot containers will pay double.
Also, as a result of a review of the bunker prices in February, the lines are looking to adjust the present EBA upward from April 1.
For full container load (FCL) shipments, the present EBA of US$80/TEU is raised to US$90/TEU, while the present less than container load (LCL) EBA goes up from US$4/revenue ton to US$5.