HONG KONG's orient Overseas Container Lines (OOCL) has announced it will increase freight rates for westbound Asia-Europe trade US$450 per TEU from May 1, covering shipment from the Far East (excluding Japan), India subcontinent and Middle East to North Europe, the Mediterranean and the Black Sea.
    "The ocean freight rate for the Asia Europe Trade continues to be below the required level to cover basic operating costs," the company explained.

(source:shipping online)