OOCL hikes rate US$100/TEU for south east Asia/Mideast to Oz May 1
HONG KONG's Orient Overseas Container Line (OOCL) will increase rates on cargo from Singapore, Thailand, Indonesia, Vietnam, Cambodia, the Philippines, Indian subcontinent, Myanmar and Middle East to Australia by US$100/TEU and US$200/FEU from May 1, the company said.
"The ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs in our southeast Asia-Australia services," OOCL said.
"Considering that current levels are unsustainable for the long term, we are announcing a rate restoration programme for this trade lane," it said.
This increase will apply on top of existing market rates and will be subject to accessorial surcharges applicable at the time of shipment, it said.