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The 16-member Far Eastern Freight Conference plans the three-month contract rate increase of $200 a TEU (twenty foot equivalent unit) to Europe from Asia, excluding Japan.

This is to meet the increasing demand for cargo in Europe from Asian countries, especially China and India, according to industry sources. The conference members are: ANL Container Lines, APL, CMA CGM, SA CSAV, Norasia, Egyptian International Shipping, Hapag-Lloyd, Hyundai Merchant Marine, Kawasaki Kisen Kaisha, Maersk Line, MISC BERHAD, Mitsui O.S.K, MSC - Mediterranean Shipping, Nippon Yusen Kaisha, Orient Overseas Container Line, Safmarine and Yangming Marine Transport.

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