News

                  HONG KONG, NOV 29: ORIENT Overseas Container Line (OOCL) has announced that it will introduce a  rate restoration  programme in order to restore freight rates to a more sustainable level.

               Due to the economic downturn, there has been a weakening of revenue levels to the extent that freight rates are unable to cover basic operating or transportation costs. Current levels are unsustainable for the long term.

                In order to maintain a viable service level and a comprehensive liner network for all of its customers OOCL said that with effect from December 15 freight rates for traffic from south-East Asia (singapore. Malaysia, Thailand, Indonesia, Vietnam, cambodia, the Philippines, Indian Subcontinent and Middle East) to Australia will be increased by $ 250 per TEU.