AS predicted in last week’s issue of FTW, the Southern Africa/Far East freight conference has announced a third and fourth rate restoration programme for 2004. The driving force behind this is the increase in general operating costs and the continuous downward spiralling of revenue rates in the SA to Far East sector, said the conference whose members include CSAV; K-Line; Maersk Sealand; Safmarine Container Lines; MOL; NYK; P & O Nedlloyd and MISC. The third restoration is effective from July 1 - where ocean rates will increase by US$100 per 20-foot (6-metre) container and US$200 per 40-ft (12-m). The fourth rate restoration, meantime, will be on October 1 - with a further increase of US$150/20-ft and US$300/40-ft. The rate increases apply to all containers exported from Southern Africa to the Far East on-or-after those dates.
