HONG KONG's Orient Overseas Container Line (OOCL) plans to implement the second phase of its rate restoration programme on January 1 in a bid to maintain a "viable service level and a comprehensive liner network".

"Ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs. Considering that, the current levels are unsustainable for the long term," an OOCL statement said.

The carrier's general rate increase for its transatlantic trades are as follows: Rates for cargo transiting ports on the US east coast, in Canada, the US Gulf and Mexico will be raised by US$320 per TEU and $400 per FEU.

Rates for cargo transiting ports on the US west coast will be increased by $480 per TEU and $600 per FEU.