OOCL to hike rates on Asia-Europe route
Friday, October 9, 2020
Orient Overseas Container Line (OOCL) will raise shipping rates on its key Asia to Europe route from September, reported Dow Jones Newswires.
It plans to increase freight rates by US$500 per TEU for all westbound shipments from Asia to North Europe, the Mediterranean and Black Sea.
OOCL raised its freight rate for the Asia-Europe route $1,500 per TEU in July and August. The container shipper didn't disclose its existing freight rate on the route.
The company, which ferries finished and semi-finished goods such as toys and garments, said it swung to a first-half net loss of $15.3 million from a year-earlier profit of US$116.5 million, on weak freight rates and lower shipping volume.
Cargonews Asia
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