ORIENT Overseas Container Line (OOCL) announced that it will put a general rate increase (GRI) into effect on cargo moving in both directions on the trans-Atlantic trade starting from July 1.

This is the second time OOCL has posted a trans-Atlantic GRI this year. It raised rates on April 1 on all westbound cargo moving between Europe, Canada, and the US via Canadian ports.

"Ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs on our trans-Atlantic trade," the shipping carrier said in a statement.

OOCL's newest trans-Atlantic rate increases are: US$450 per TEU and $600 per FEU and 45-foot-container for both westbound and eastbound and applicable to dry and reefer cargo on all the routes and services between Europe, Canada and the US via Canadian ports; $400 per TEU and $500 per FEU and 45-foot container for both westbound and eastbound and applicable to dry and reefer cargo on all the routes and service between Europe and the US; and $200 per TEU and $300 per FEU and 45-foot container for both westbound and eastbound and applicable to dry and reefer cargo on all the routes and services between Europe and Mexico.