The ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs in our Southeast Asia-Australia services, the company said in its press release.
In order to maintain a high standard service level and a comprehensive liner network, please be advised that with effect from August 1, freight rates for traffic from Southeast Asia (Singapore, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian Subcontinent, Myanmar and Middle East) to Australia will be increased by US$200/TEU and US$400/FEU for both dry and refrigerated cargo in the base ocean freight.
This increase will apply on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment.