OOCL plans to raise rates on the eastbound trade from North Europe to Asia at the beginning of October.
“Ocean freight rates continue to be below the required level to cover operating costs on our North Europe to Asia Trade,” the Hong Kong-based carrier said in its announcement. Considering that the current levels are unsustainable for the long term, we are announcing a general rate increase, which will be applied to all cargo loading on or after October 1.”
The rate increase is $200 per 20-foot or 40-foot container.
OOCL said it plans to announce further rate increases this year.
OOCL is a member of the G6 Alliance, which announced earlier this month that it is suspending one of its Asia-Europe services for the winter because of what was termed the lack of forecast improvements in the market.