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Trade Reports (Contd.) Venezuela and ColombiaPlans to introduce the Euro-Caribe (CAROL Phase II) container service are at last moving towards a point of final completion, and the service will start in December 1982. The new container service will operate on a fortnightly frequency with a round voyage duration of 42 days, together with a fortnightly breakbulk service for Westbound voyages only. For the container service, the Euro-Caribe Lines will charter three self-sustaining, multi-purpose vessels, each vessel with a capacity for 500 TEUs. We shall be responsible for operating one of the container vessels, the operation of the other two, being divided between our three Partners, Hapag-Lloyd, Nedlloyd and CGM. In so far as the breakbulk vessels are concerned, they will continue to be operated by HapagLloyd and CGM/Nedlloyd, with the Hapag-Lloyd vessel serving Liverpool on a monthly basis to load our conventional cargo. The container vessels will call at Hamburg (Bremerhaven), Amsterdam, Le Havre, Greenock (alternate vessels), La Guaira (alternate vessels ex Greenock), Puerto Cabello (alternate vessels), Cartagena, Puerto Limon, Hamburg. The breakbulk vessels will cover the same main Continental ports, including Antwerp and Liverpool, proceeding to all principal Venezuelan and Colombian ports, and finally Puerto Limon. For the time being, we shall continue to restrict our marketing activities to the United Kingdom for Venezuela and Colombia, with the other Lines being restricted to the Continental traffic. All four Lines will be free to operate in all sections of the trade to Costa Rica.

** * MEXICO - SAGUMEX by J .B. Dawson It was mentioned in the last Newsletter that this trade is beset with many problems. Since that was written a further problem has arisen in that the Mexican Peso was drastically devalued in February, and this has meant a further substantial decline in our carryings.

This decline has not been restricted to cargo from the U.K. only; our Continental colleagues have reported similar alarming trends as well. There have been disappointing reports about the progress of dredging at Tampico, which has put the reinstatement of Tampico and Coatzacoalcos into the service back to July, or perhaps even August. In the meantime, Vera Cruz remains the only port being served by SAGUMEX. Whilst the container operations are reasonably satisfactory in terms of vessels being despatched more or less on time, there still remains the problem of serious congestion on the terminal, and the cost of handling and stripping containers is also exhorbitent.

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Harrison News Letter No35