Date: Monday, November 14, 2005

Re:	THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA)

Dear NASA Member:

Based upon the latest monitoring of fuel prices, TACA's current Bunker Adjustment Factor (BAF) will be held unchanged for a further 30 days through January 15, 2006 , at the following levels:

Traffic to/from and via:
Atlantic/Gulf Coast Ports		Pacific Coast Ports
$ 423 per 20ft container		$ 635 per 20ft container
$ 846 per 40/45ft container		$ 1,270 per 40/45ft container
WM $42.00		WM $64.00

With respect to Currency Adjustment Factor (CAF), based on the latest monitoring of relevant currency values, the current Tariff published level will remain unchanged at 6% (six percent) through at least January 15, 2006 .

The TACA BAF and CAF to apply from January 16, 2006 , will be announced on a minimum of 30 days' notice.  Appropriate details will be published timely in TACA's relevant tariffs and on its website.

The Members of TACA are:

Atlantic Container Line A.B.		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