The Hong Kong-based carrier will hike rates from Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian Subcontinent and the Middle East to by $250 per 20-foot container.
'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,' OOCL said in a statement. 'Current levels are unsustainable for the long term.'
