OOCL Seeks Second Rate Hike on Asia-Europe Services

4/4/2012 10:17:35 AM

OOCL is joining other major container ship operators in seeking a second general rate increase this year on Asia-Europe services.   The Hong Kong-based carrier, which imposed an additional $800 per 20-foot container increase from Asia to North Europe and the Mediterranean on March 1, will push its rates up by $450 per TEU on May 1.   “The ocean freight rate for the Asia-Europe trade continues to be below the required level to cover basic operating costs,” OOCL said.   The carrier said the increase will apply to all shipments from the Far East (excluding Japan), the Indian Subcontinent and the Middle East to North Europe, the Mediterranean and the Black Sea.   The move follows similar GRI announcements by several other carriers, including Maersk Line, Mediterranean Shipping Co. and United Arab Shipping, that took effect on April 1.   Separately, OOCL said it will impose an “interim fuel participation” surcharge on Europe-Asia trade lanes to cover rising bunker costs. Effective April 9, the proposed surcharge on dry and refrigerated cargo will be $212 per TEU.   The Journal of Commerce Online

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OTHER NEWS

Maersk to Boost Rates From Asia to US (4/3/2012 10:09:47 AM) Maersk Plans New Rate Increases (3/30/2012 10:24:23 AM) Cosco to Launch Asia-Houston Loop With Newest Ship (3/30/2012 10:23:19 AM) MSC raising US-to-South America rates (3/30/2012 10:22:45 AM) MSC Merges India-Europe-Mediterranean Services (3/29/2012 10:11:36 AM) MOL joining PIL/'K' Line Asia-Africa loop (3/29/2012 10:10:01 AM) Hanjin Takes Delivery of First 13,000-TEU Ships (3/28/2012 10:34:56 AM) UASC to Hike Europe-Asia Cargo Rates (3/28/2012 10:33:58 AM) Hapag-Lloyd Plans Europe-Asia Fuel Surcharge (3/27/2012 10:21:41 AM) Container lines freeze Europe-Asia bookings (3/27/2012 10:21:02 AM)

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