EMTA announced their Rate Restoration Program for the North Europe - Israel Trade

The announcement met strong reaction from the head of the Israeli shipper's council (ISC) who asked shippers to refuse to pay the proposed rate increase
 
The Europe Mediterranean Trade Agreement (EMTA) announced last week their
Rate Restoration Programme for the North Europe - Israel Trade.
 
Conference Secretariat said in a press release that " Having reviewed the trade, the Lines have found that continuing high operating costs require them to increase rates in order to maintain current service levels."
 
The announcement said that shipping rates will be increased, as follows:
Southbound: USD 75 per TEU with effect from 1st December 2006
Northbound: USD 50 per TEU with effect from 15th January 2007
 
The announcement met strong reaction from the head of the Israeli shipper's council (ISC) who asked shippers to refuse to pay the proposed rate increase.
 
ISC Chairman Gad Schaefer said, following a meeting with EMTA's representatives, that there was no justification for the increase mainly due to the fact that demand was rather low and that present freight rates , TEU US$ 500 – US$650 were far below the official conference rate of US$850.- per TEU.

The conference said that the lines decided to go ahead with the rate restoration program