OOCL raises Asia-Europe US$550/TEU, ups Mideast rate US$650/TEU Dec 15

HONG KONG's Orient Overseas Container Line (OOCL) will levy a US$550 per TEU rate hike from the Far East to North Europe and a $650 per TEU increase to the Mediterranean and Black Sea from December 15.

The carrier also announced a $350 per TEU peak season surcharge from January 10 ahead of the Chinese New Year factory shutdown that starts the week of February 10.

The company calls the increase a "Revenue Restoration Program & Peak Season Surcharge - Asia Europe Trade (westbound)" which enables OOCL to "continue providing quality and sustainable services".