OOCL Bumps Trans-Atlantic Rates

10/29/2009 10:07:49 AM

Orient Overseas Container Line will apply the second phase of its rate restoration program Jan. 1 with a general rate increase on the trans-Atlantic trade.   “Ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs,” the carrier said in a statement, adding that current levels are unsustainable for the long term.   The increases for cargo transiting ports of Canada, U.S. East Coast, U.S. Gulf, and Mexico will be $320 per 20-foot container and $400 per 40-foot container.   Rates for cargo transiting ports on the U.S. West Coast will increase by $480 per TEU and $600 per FEU.   The Journal of Commerce Online

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