OOCL hikes north Europe-Asia rate

1/26/2013 10:23:08 AM

HONG KONG's Orient Overseas Container Line (OOCL) has announced a general rate increase (GRI) of US$200 per TEU and $300 per FEU to be applied to all cargo loading in north Europe bound for Asia starting March 1. "Ocean freight rates continue to be below the level to cover operating costs or transportation costs on our north Europe to Asia trade. Considering that current levels are unsustainable for the long term, the GRI is required to maintain viable service and a comprehensive liner network," said the OOCL statement.   Asian Shipper News

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