Orient Overseas Container Line (OOCL), Hong Kong’s biggest box carrier, plans to impose another freight rate hike on the North Europe-Asia trade lane in mid-June.
The general rate increase (GRI) of US$200 per 20-foot equivalent unit (TEU) or 40-foot equivalent unit (FEU) applies to all cargo shipped from North Europe to Asia and begins from June 15.
The latest GRI comes after the container line, among the world’s largest, imposed a rate hike of $200 per TEU or FEU on May 15 on the same trade and $200 per TEU and $300 per FEU on April 15.
The company said in a media statement that the freight price hike is meant to cover basic operating or transportation costs on the North Europe-Asia corridor since current freight rates remain inadequate.
Photo: OOCL
