Monday, February 10, 2003
Re: Trans-Atlantic Conference Agreement

The Trans-Atlantic Conference Agreement (TACA) announces:

Based upon the latest monitoring of fuel prices, TACA's Bunker Adjustment Factor (BAF), will be increased to the following levels, effective March 16, 2003, through April 15, 2003:

        Traffic to/from and via:

        Atlantic/Gulf Coast Ports         Pacific Coast Ports
        $ 216 per 20ft container          $ 324 per 20ft container
        $ 432 per 40/45ft container     $ 648 per 40/45ft container
        WM $22.00                            WM $32.00

The BAF to apply from April 16, 2003 will be announced no later than March 16th.
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 Line GmbH Orient Overseas Container Line
       Mediterranean Shipping Co. P&O Nedlloyd Limited A .P. Moller-
       Maersk Sealand

Kind regards,
Judy Mannix, Administrator