Date: Monday, May 9, 2005

Re:	THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA)

Dear NASA Member:

Based upon the latest monitoring of fuel prices, TACA’s Bunker Adjustment Factor (BAF) for the period May 16 through June 15, 2005, will continue unchanged from June 16, 2005, for a further period of 30 days through July 15, 2005, at the following levels:

Traffic to/from and via:

Atlantic/Gulf Coast Ports		Pacific Coast Ports
$ 304 per 20ft container		$ 456 per 20ft container
$ 608 per 40/45ft container		$ 912 per 40/45ft container
WM $30.00		WM $46.00

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

Effective June 16, 2005, CAF application will be extended to traffic moving to/from ports in Estonia, Latvia, and Lithuania.

The TACA BAF and CAF to apply from July 16, 2005, will be announced no later than June 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.		Nippon Yusen Kaisha (NYK) Line
Hapag-Lloyd Container Linie GmbH		Orient Overseas Container Line
Mediterranean Shipping Co.		P&O Nedlloyd Limited
A.P. Moller-Maersk Sealand

Best regards,

North American Shippers Association (NASA)
Joan Barrett
NASA Administrator