OOCL to Hike Westbound Asia-Europe Rates $8003 February 2012
Carrier joins rivals in an attempt to pump up rates on the depressed trade lane
OOCL announced Friday it will increase freight rates $800 for westbound cargo on Asia-Europe services March 1, joining other carriers in an attempt to pump up rates on the depressed trade lane.
“The ocean freight rate for the Asia-Europe trade continues to be below the required level to cover basic operating costs,” the carrier said.
OOCL will boost its rates by $800 per 20-foot equivalent unit on all shipments from the Far East (except Japan) to North Europe, the Mediterranean and the Black Sea. The increase would more than double the latest spot market rates on Asia-Europe lanes.
OOCL’s action mirrors the March 1 rate increases already scheduled by several other ocean carriers, including Maersk Line, Mediterranean Shipping and http://www.joc.com/container-lines/hanjin-seeks-700-increase-asia-europe-rates">Hanjin.