Date: Monday, July 11, 2005

Re:	THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA)

Dear NASA Member:

THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA) announces:

Based upon the latest monitoring of fuel prices, TACA’s Bunker Adjustment Factor (BAF) for the period July 16, 2005, through August 15, 2005, will continue unchanged from August 16, 2005, for a further period through September 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 of 9% (nine percent) will be reduced to 6% (six percent), effective August 16, 2005, through, at least, September 15, 2005.

The TACA BAF and CAF to apply from September 16, 2005+, will be announced no later than August 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