Rate increase appears to be the order of the day with almost every industry and the shipping industry is and cannot afford to be an exception. Almost all major ship lines have already resorted to rate increase to fight downward trend in business. Now, Orient Overseas Container Line (OOCL) has come out with an announcement of the rate increase as their “revenue recovery programme”. An increase of USD 200 per Twenty Foot Equivalent Unit (TEU) on all cargo from Asia to New Zealand and this increase comes into effect from January 15.The Hong-Kong based container shipping and logistics service company, OOCL justified the increase saying that it was necessary “to ensure the continued provision of high quality services and sufficient capacity to cater for our customer requirements”.
OOCL has a fleet of more than 270 vessels of different classes with capacity varying from 2,500 Twenty Foot Equivalent Units (TEU) to 13,000 TEU and it has ice-class vessels for extreme weather conditions too.
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