Hong Kong: Container giant OOCL has announced that freight rates on its routes from Asia to Australia will increase beginning September 15 'order to maintain a viable service level and a comprehensive liner network' for its customers
 In a statement on its website, the company said, "The economic downturn has led to a weakening of revenue levels to the extent that freight rates are unable to cover basic operating or transportation costs. Considering that current levels are unsustainable for the long term, OOCL would like to advise that we will introduce a rate restoration programme in order to restore freight rates to a more sustainable level.
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 300 per teu.
From September 21, 2009, freight rates for traffic from China, Hong Kong, Taiwan and Korea to Australia, will be increased by USD 250 per teu. [09/09/09]
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