“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,” explained the Hong Kong-based liner operator in a written release dated December 13.
“Considering that current levels are unsustainable for the long term, we are announcing a rate restoration program for this trade lane.”
Freight rates will be raised by US$200 per 20-foot-equivalent unit and $400 per 40-foot container for both dry and refrigerated cargo.
The increase will take effect from January 15. It will apply on top of existing market rates and be subject to accessorial surcharges applicable at the time of shipment.
OOCL’s Southeast Asia services cover Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, the Indian Sub-continent, Myanmar, and the Middle East.