OOCL levies $150/TEU hike for Southeast Asia-Oz cargo on January 20

HONG KONG's Orient Overseas Container Line (OOCL) will levy a rate increase of US$150 per TEU and US$300 per FEU on cargo from Southeast Asia (Singapore, Thailand, Indonesia, Philippines, Vietnam, Cambodia, Myanmar, Pakistan, Sri Lanka and Bangladesh) to Australia from January 20.

This increase will apply on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment, said the shipping line, adding that further information would be available through local sales representatives.

"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," said the company statement.

"Considering that current levels are unsustainable for the long term, we are announcing a rate restoration programme for this trade lane," it said.