Orient Overseas Container Line will apply the second phase of its rate restoration program Jan. 1 with a general rate increase on the trans-Atlantic trade.
“Ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs,” the carrier said in a statement, adding that current levels are unsustainable for the long term.
The increases for cargo transiting ports of Canada, U.S. East Coast, U.S. Gulf, and Mexico will be $320 per 20-foot container and $400 per 40-foot container.
Rates for cargo transiting ports on the U.S. West Coast will increase by $480 per TEU and $600 per FEU.
“Ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs,” the carrier said in a statement, adding that current levels are unsustainable for the long term.
The increases for cargo transiting ports of Canada, U.S. East Coast, U.S. Gulf, and Mexico will be $320 per 20-foot container and $400 per 40-foot container.
Rates for cargo transiting ports on the U.S. West Coast will increase by $480 per TEU and $600 per FEU.