Orient Overseas Container Line (OOCL) is increasing freight rates for traffic from Southeast Asia to Australia effective April 1.
The Hong Kong-based container line said cargo rates on the Southeast Asia-Australia trade lanes will go up by US$200 per 20-foot equivalent unit (TEU).
The carrier said the rate restoration program aims to restore freight rates to a more sustainable level. “Currently, ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs in our Southeast Asia-Australia services,” OOCL said in a March 1 corporate message.
The rate hike will cover cargo moving from Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, the Indian sub-continent, and the Middle East to Australia.
