The ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs in OOCL Southeast Asia-Australia services. Considering that current levels are unsustainable for the long term, OOCL announcing a rate restoration program for this trade lane.
With effect from January 20, 2016, freight rates for traffic from Southeast Asia (Singapore, Thailand, Indonesia, Philippines, Vietnam, Cambodia, Myanmar, Pakistan, Sri Lanka and Bangladesh) to Australia will be increased by US$150/TEU and US$300/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.