OOCL and Evergreen hike transatlantic rates

TAIWAN's Evergreen Line will raise freight rates US$350 per TEU and $450 per FEU from July 1 on its container shipping services from northern Europe to the US as part of an ongoing rate restoration programme.

Hong Kong's OOCL will also implement a general rate increase from April 1 of $400 per TEU and $500 per FEU on the Atlantic trade. Ocean rates for cargo loading or discharging at Montreal will be increased $320 per TEU and $400 FEU from April 1.

"Further rate restorations to be applied during 2010 will be announced in due course," said the OOCL statement. The increases are required in order to maintain a viable service level and a comprehensive liner network. Ocean freight rates continue to be below the required level to cover costs."

Evergreen said the shipping line plans a further rate hike by the same amount on October 1. The increase will be applied to all cargo and commodities, including reefers and special equipment.
 

Source: SchedNet