EMTA announced GRI

EMTA conference ( European Mediterranean Trade Agreement ) announced last week a general freight rate increase of us$90/TEU effective from April 7th 2005.
 
The freight rate increase will cover the eastbound leg only.
 
The conference's announcement followed a negotiation meeting between ship owners representatives and representatives of the Israeli Shipper's Council ( ISC).
 
The conference initially requested a rate increase amounting to us$125/TEU for import and us$50 / TEU for export, explaining that ships costs had risen dramatically over the last three years. Daily cost of chartered container ship had risen from us$8,000 in 2003 to us$28,000 in 2005.
 
ISC requested the shipping lines to consider not only the hardship encountered by Israeli exporters competing in the North European markets but also the fact that transshipment rates via south European ports to north European ports was relatively cheaper, hence any rate increase may divert cargo to transshipment ports rather than to direct sailings from Israel.
 
The conference consists of the following member lines: CMA CGM, Contaz, Ellerman, Hamburg Sud, Iscont, "K" Line, Maersk Sealand, MSC, Navigation Maritime Bulgare (Bulcon), P&O Nedlloyd, Safmarine, Senator, Turkon, ZIM.