Date: Wednesday, March 12, 2008

Re:	Panama Canal Surcharge – North/South Europe

Received below from Hapag Lloyd:

Please be advised that on the basis of increased ACP rates, the Panama Canal surcharge is increasing effective May 1, 2008:

This is applicable for trades to North Europe and South Europe.

(For info, we were originally advised that charge was increasing to USD 247/cntr but this has now been revised to $260/cntr.)