[ TWRA Lines to Lower Their Currency & Fuel Surcharges ]

A stronger U.S. dollar and an overall decline in marine fuel prices on
the world market since late Feburary has led TWRA to reduce its curre
ncy and fuel charges on shipments moving from the U.S. to Asia.
Effective for the calendar quarter beginning July 1, 1997, TWRA will l
ower its currency ajustment factor(CAF) surcharge from 42 to 38 percen
t for Japan cargo; from 10 percent to 9 percent for Taiwan shipments;
and from 17 to 15 percent for Singapore move. A current 3 percent Kor
ea CAF will be eliminated for the upcoming quarterly period, reflectin
g a continued decline of the Korean won against the dollar.
Also during the calendar quarter beginning July 1, the TWRA fuel adjus
tment factor will be lowered from US$140 to $ 100 per 45-foot and 40-f
oot container; from $112 to $80 per 20-foot unit; from $70 to $50 per
vehicle; from $14 to $10 per 1,000 board feet; and from $7 to $5 per m
etric ton or cubic meter.
CAFs are surchages put in place by TWRA to help offset rising costs as
local Asian destination country currencies rise against the U.S. doll
ar- the currency in which most freight rates are paid worldwide. FAFs
are surcharges intended to help mitigative major cost impacts to carr
iers from fluctuating marine fuel prices. Both CAF and FAF surcharges
are adjusted quarterly, in accordance with established formulas.
TWRA is a ratemaking group of 11 ocean and intermodal transportation c
ompanies serving the trade lane from ports and inland points in the U.
S. to destinations throughout Asia.