Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

OOCL to hike SE Asia - Australia rates

OOCL to hike SE Asia - Australia rates

Hong Kong: OOCL has announced that beginning December 15 the company will introduce a rate restoration program increasing the cost of tonnage shipped from Southeast Asia to Australia by USD 250 per TEU. The increase, said to be an attempt to "restore freight rates to a more sustainable level" will impact cargo loaded in Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, the Indian Subcontinent and the Middle East.

"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," OOCL said in a statement adding current levels are unsustainable for the long term.  [20/11/09]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish

SMN_Podcast_Leaderboard.jpg