OOCL hikes south Asia-Oz rate US$250/TEU, $500/FEU on October 1

9/3/2013 10:05:04 AM

HONG KONG's Orient Overseas Container Line (OOCL) will increase rates on October 1 for all dry and refrigerated cargo from southeast Asia (Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian subcontinent, Myanmar and Middle East) to Australia by US$250 per TEU and $500 FEU. "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. Considering that current levels are unsustainable for the long term, we are announcing a rate restoration programme for this trade lane," said OOCL in a notice to trade. Asian Shipper News

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