[ TWRA LOWERS JAPAN CURRENCY SURCHARGE ]

ALL OTHERS REMAIN THE SAME

Gradual strengthening of the U.S. dollar against the Japanese yen duri
ng the past three months has enabled the Transpacific Westbound Rate A
greement (TWRA) to lower its Japan currency adjustment factor (CAF) su
rcharge from 53 to 51 percent. The CAF reduction will be in effect for
the calendar quarter beginning July 1, 1996. TWRA’s other CAFs to Ko
rea, Taiwan and Singapore will remain at their current levels of 5 per
cent, 10 percent and 16 percent respectively, for the quarter beginnin
g July 1.
Marine fuel prices at key trans-pacific loading points has remained re
lative stable during the past quarter, allowing TWRA to maintain its f
uel adjustment factor (FAF) at current levels, also for the quarter be
ginning July 1, 1996. The FAF, applied to all shipmentsmoving on TWRA
member line vessels, is now set at US$120 per 40 foot container; $96 p
er 20 foot container; $60 per vehicle, and $6 per revenue ton.
TWRA is a ratemaking group of 11 ocean and intermodal transportation c
ompanies serving the trade from ports and inland points in the U.S. to
destinations throughout Asia andthe Indian Subcontinent.