| Abstract | Despite the serious economic downturn, Hong Kong shippers have been buffeted from all sides with increases in freight rates, charges and surcharges. On the sea side, ANERA and the major independent lines for the transpacific eastbound trade have imposed a General Rate Increase (GRI) of US$300/FEU with effect from May 1, 1998. The AWRA for the Hong Kong Europe trade has announced a rate restoration of US$150/TEU with effect from July 1, 1998, and is talking of another increase in October 1998. |
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