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OOCL announced on February 17 a rate hike on its North Europe to Asia service.

“Currently, ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs on our North Europe to Asia Trade. Considering that the current levels are unsustainable for the long term, we are announcing a General Rate Increase (GRI) which will be applied to all cargo loading on or after March 15, 2012,” OOCL said.

The GRI, which is required in order to maintain a viable service level and a comprehensive liner network for all of our customers, is US$200 per container for cargo moving from North Europe to Asia.

Further rate restorations to be applied during 2012 will be announced in due course.

 

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