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Faced
with the prospects of a shrinking
volume of trade, the Far Eastern
Freight Conference, which met in
Hong Kong last week has decided to
lower a westbound rate increase
planned to take effect at the
beginning of August.
The
14-member lines conference
announced that the rates from Asia
to Europe will go up by US$100 per
TEU rather than the US$250
originally notified to shippers.
The
decision to scale back was made at
a meeting of the owners in Hong
Kong which also discussed ways to
reduce surplus capacity from the
trade without running foul of the
European Commission anti
competition rules.
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