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CARRIERS FILE WITH FMC FOR SINGLE TRANSPACIFIC AGREEMENT


(The following is a reformatted version of a press release issued by the Transpacific Stabilization Agreement and received via e-mail. The release was confirmed by the sender.)

CARRIERS FILE WITH FMC FOR SINGLE TRANSPACIFIC AGREEMENT TSA cites the need to streamline agreements and cut administrative costs.

Oakland, CA / November 27, 2012 - The members of the Transpacific Stabilization Agreement (TSA) have filed an amendment with the U.S. Federal Maritime Commission (FMC) that would expand TSA’s scope to include the entire transpacific round trip, including the westbound trade. It is expected that once the amendment becomes effective, the lines would suspend activities of the existing U.S.-Asia carrier group, the Westbound Transpacific Stabilization Agreement (WTSA). TSA filed the amendment for a 24-month trial period, subject to review at the end of that time.

Streamlining the agreements and cutting cost is the primary purpose of the filing, explained TSA Executive Administrator Brian Conrad. Maintaining separate carrier agreements, each with its own meetings, dedicated carrier staff support, compliance requirements and administrative overhead is less justifiable than in the past, especially given the sustained low-revenue environment seen in recent years.

In this regard, TSA executive administrator Brian M. Conrad noted that nearly all other major trade lanes with carrier agreements are represented by a single group which includes the entire round trip trade in its scope.

“The same lines carry the cargo in both directions on the same vessels, as part of their round-trip service rotations,” Conrad said. “Since they operate their business on round trip basis, it only makes sense to view the two segments as an integrated whole from an Agreement perspective as well.”

TSA is a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the U.S. More information on TSA can be found at www.tsacarriers.org.

TSA members include: APL Ltd. Kawasaki Kisen Kaisha, Ltd. (K Line) China Shipping Container Lines Maersk Line CMA-CGM Mediterranean Shipping Co. COSCO Container Lines, Ltd. Nippon Yusen Kaisha (N.Y.K. Line) Evergreen Line Orient Overseas Container Line, Ltd. Hanjin Shipping Co., Ltd. Yangming Marine Transport Corp. Hapag-Lloyd AG Zim Integrated Shipping Services Hyundai Merchant Marine Co., Ltd.

Contact: Niels Erich T: 415.525.4520

Email: n.erich@comcast.net

(sgp) NY

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