OOCL joins rivals in raising Asia-Europe rates - US$450/TEU from April

HONG KONG`s Orient Overseas Container Line (OOCL) has announced it will increase the westbound Asia-Europe rates by US$450 per TEU from April 1 for shipments from the Far East (including Japan), Indian subcontinent, and Middle East to North Europe, the Mediterranean and Black Sea.

It follows the second round of freight rates increase first announced by the world`s largest carrier Maersk in February before the implementation of the general rate increase on March 1. The world`s second and third largest carriers MSC and CMA CGM, as well as a number of carriers have announced similar increase between $400 and $700 from April 1.