OOCL to increase Asia-Europe rates US$275 per TEU from June

HONG KONG's Orient Overseas Container Line (OOCL) has announced it will increase rates on Asia-Europe services US$275 per TEU for all westbound cargo from Far East (excluding Japan), the Indian subcontinent and the Middle East to North Europe on June 1.


This increase follows an earlier announcement of May 15 rate rise for services from Asia to the Mediterranean and the Black Sea region.


Other carriers have announced similar "rate restorations" on Asia-India subcontinent-Europe-Mediterranean trade loops from May 15 and June 1, reported Newark's Journal of Commerce.


May 15 has also been set for an increase of $250 per TEU by United Arab Shipping Company, Zim Integrated Shipping Services, Hyundai Merchant Marine and Evergreen, while the June 1 rate hikes of $225 per TEU are scheduled by CMA CGM and $250 per TEU by Maersk and MOL.
(Source:http://www.schednet.com)