OOCL increases its North Europe to Asia trade's general rate

OOCL announced an increase in freight rates on its North Europe - Asia route. Currently ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs on the company’s North Europe to Asia trade.
 
Considering that the current levels are unsustainable for the long term, OOCL announced a General Rate Increase (GRI) that will be applied to all cargo loading on or after March 15, 2012.

The GRI, which is required in order to maintain a viable service level and a comprehensive liner network for all of the company’s customers, is as follows: USD 200 per container for cargo moving from North Europe to Asia.

Further rate restorations to be applied during 2012 will be announced in due course. < Korea Shipping Gazette >