Date: Friday, April 08, 2005

Re:	THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA)

Dear NASA Member:

Based upon the latest monitoring of fuel prices, which have shown exceptionally high price increases, TACA’s Bunker Adjustment Factor (BAF) will be adjusted with effect from May 16, 2005, through, at least June 15, 2005, to the following levels:

Traffic to/from and via:
Atlantic/Gulf Coast Ports $ 304 per 20ft container $ 608 per 40/45ft container WM $30.00	Pacific Coast Ports $ 456 per 20ft container $ 912 per 40/45ft container WM $46.00

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

The TACA BAF and CAF to apply from June 16, 2005, will be announced no later than May 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