HONG KONG's Orient Overseas Container Line (OOCL) has announced a US$200 per TEU ($400/FEU) rate increase on dry and reefer cargo shipped from southeast Asia to Australia effective January 15.

"Rates continue to be below the required level to cover basic operating costs or transportation costs in our southeast Asia-Australia services," said the OOCL notice to trade.

The rate applies to cargo shipped from Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, Indian subcontinent, Myanmar and the Middle East to Australia.

OOCL said the increase was necessary to "maintain a high standard service level and a comprehensive liner network" and that the charge would apply on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment.