The ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs in their Southeast Asia-Australia services. Considering that current levels are unsustainable for the long term, OOCL is announcing a rate restoration program for this trade lane.

In order to maintain a high standard service level and a comprehensive liner network, the freight rates for traffic from Southeast Asia (Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian Subcontinent, Myanmar and Middle East) to Australia will be increased by US$250/TEU and US$500/FEU with effect from October 1 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.