Shipping Rate, Surcharge Update for Week of Sept. 17-21

OOCL will increase freight rates on services from South East Asia, India and the Middle East to Australia next month. The Hong Kong-based carrier said the $200 per TEU hike on Oct. 15 would help “cover basic operating costs” on the trade and “restore freight rates to a more sustainable level.” The rate increase to Australia will cover services from Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, the Philippines, the Indian Subcontinent and the Middle East.

United Arab Shipping Company will impose a general rate increase on all cargo moving from the western Mediterranean and Adriatic to the Indian subcontinent and the Arabian Gulf (excluding Iran). The proposed increase, starting Oct. 1, will be $200 per container. The Middle East carrier will apply a $500 per TEU hike on shipments from the western Mediterranean and Adriatic to Iran, also effective the same date.

- The Journal of Commerce.