<B>WTSA Announces Rate Hikes</B>

Container shipping lines operating between the United States and Asia announced plans to raise their commodity rates. The Westbound Transpacific Stabilization Agreement cited the strengthening Asian economy, stronger U.S. exports and higher export prices as reasons for the planned hike.

Effective September 1, carriers will individually raise rates for recovered fiber via West Coast ports by $100 per 40-foot container. Metal scrap rates will increase by $100 per forty-foot container.

Effective Oct. 1, plastic scrap, wood pulp and recovered fiber via East Coast ports will be increased by $100 per forty-foot containers.

The WTSA is a voluntary discussion and research forum of 12 major container shipping lines serving the shipping industry between the United States and Asia. Members include the following: American President Lines, COSCO Container Lines; Evergreen Marine Corp.; Hanjin Shipping; Hyundai Merchant Marine Co.; Kawasaki Kisen Kaisha (K Line); Maersk Sea Land; Mitsui O.S.K. Lines: P&O Nedlloyd Ltd.; Nippon Yusen Kaisha (NYK Line); Orient Overseas Container Line (OOCL); and Yangming Marine Transport Corp.