OOCL announces rate increases on Asia - Australia services

OOCL announced yesterday that the company will introduce a rate restoration program in order to restore freight rates to a more sustainable level. Due to the economic downturn, there has been a weakening of revenue levels to the extent that freight rates are unable to cover basic operating or transportation costs. Current levels are unsustainable for the long term.
In order to maintain a viable service level and a comprehensive liner network for all of our customers, please be advised with effect from December 15, 2009, freight rates for traffic from Southeast Asia (Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian Subcontinent and Middle East) to Australia, will be increased by USD 250 per TEU.

(Source: Transport Weekly)