OOCL announces rate increase on Southeast Asia-Australia services
The ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs in OOCL Southeast Asia-Australia services. Considering that current levels are unsustainable for the long term, OOCL announcing a rate restoration program for this trade lane, the company said in its press release.
In order to maintain a high standard service level and a comprehensive liner network, with effect from May 1, freight rates for traffic from Southeast Asia (Singapore, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian Subcontinent, Myanmar and Middle East) to Australia will be increased by US$100/TEU and US$200/FEU for both dry and refrigerated cargo in the ocean freight base rate. This increase will apply on top of existing market rates and will be subject to accessorial surcharges applicable at the time of shipment.
