Date: Friday, February 11, 2005

Re:	THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA) announces

Dear NASA Member:

Based upon the latest monitoring of fuel prices showing substantial increases, an adjustment of TACA's BAF has been triggered, with effect from March 16, 2005, through, at least April 15, 2005, to the following levels:

Traffic to/from and via

Atlantic/Gulf Coast $211 per 20ft container $422 per 40/45ft container WM $21.00

Ports Pacific Coast Ports $317 per 20ft container $633 per 40/45ft container WM $32.00

With respect to CAF, the Tariff published level, based on the latest monitoring exercise, will remain at 9% (Nine percent) through, at least, April 15, 2005.

The TACA BAF and CAF to apply from April 16, 2005, will be announced no later than March 15, 2005. Such will be published in TACA's relevant tariffs and on its website.

The Members of TACA are:

Atlantic Container Line A.B. Hapag-Lloyd Container Linie GmbH Mediterranean Shipping Co. A.P. Moller-Maersk Sealand

Nippon Yusen Kaisha (NYK) Line Orient Overseas Container Line P&O Nedlloyd Limited

Best regards,

North American Shippers Association (NASA)
Joan Barrett
NASA Administrator