Wednesday, October 02, 2002
Re: Mediterranean-North Pacific Freight Conference - BAF       Adjustment

Dear NASA Members:

I) MED PAC BAF/IFP – Upward Revision

The Member lines of the MED PAC Conference wish to inform that the applicable BAF/IFP level filed for all MED PAC/Member Lines services & rates will be revised as follows:

     Effective as of November 1ST, 2002 : BAF/IFP
     US$ 160 x TEU

The Fuel prices situation will continue to be monitored and any eventual further revision will be communicated in due time.

II) MED PAC Panama Canal Surcharge

The member lines of the MED PAC Conference hereby give notice to the clientele that effective as of November 1st, 2002 will establish a “Panama Canal Surcharge” in the amount of:

     US$ 100 x Container

Trust in the clientele’s comprehension for the action taken, resulting in necessary order to at least partially sustain the cost involved with the transit of vessels at Panama.

MEMBER LINES:
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ITALIA DI NAVIGAZIONE
ZIM ISRAEL NAV. CO.

Kind regards,
Judy Mannix, Administrator
North American Shippers Association