Date: Thursday, January 31, 2008

Re:	U.S. / Australasia Discussion Agreement (USADA) - EFAF

The members of the USADA providing direct service to Australia and New Zealand from the United States have conducted the quarterly review of the Emergency Fuel Adjustment Factor (EFAF) and wish to advise that effective March 15, 2008, the new EFAF will be as follows:

$756 per 20’
$1,512 per 40’

The members will continue to monitor the EFAF on a three month cycle, and adjustments will be made following the review period with appropriate notice given to the trade.

All rate actions undertaken by the members of USADA are done on a voluntary and non-binding basis.

Members of USADA:
ANL
CMA-CGM
Hamburg Sud
Hapag-Lloyd AG
Marfret
US Lines
Wallenius Wilhelmsen