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CMA CGM to rejoin TSA

CMA CGM to rejoin TSA

Marseilles: CMA CGM is to take up membership again of the Transpacific Stabilization Agreement (TSA) as of March 8.  The French container shipping line had been a member of the association until a year ago.

A company statement said, "CMA CGM strongly believes that the new Management structure of the TSA, effective beginning 2007, will allow the Members to work to recover continuously increasing costs while still providing cost  effective service to our customers".

"We welcome this decision by CMA CGM and look forward to their participation as we head into a new round of service contracting in 2007," said TSA chairman and APL president and ceo Ron Widdows. "CMA CGM's worldwide operations and the volumes they control represent an important influence in the transpacific market. Their decision to rejoin attests to the ongoing value of TSA, and will contribute to the effectiveness our industry as a whole in managing services and costs in the transpacific market."

TSA members include: Evergreen Marine, Yang Ming Transport, NYK Line, APL, Coscon, OOCL, MOL, "K" Line, Hyundai Merchant Marine and Hanjin Shipping.  [25/01/07]