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OOCL announces Trans Atlantic Trade General Rate Increase  

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, OOCL will implement a General Rate Increase with effect from April 1^st, 2010. The increases are required in order to maintain a viable service level and a comprehensive liner network.

Ocean rates for cargo loading or discharging at USA or Mexican ports will be increased as follows:
April 1^st 2010:    $400 per 20’ container and $500 per 40’ container

Ocean rates for cargo loading or discharging at Montreal will be increased as follows:
April 1^st 2010:    $320 per 20’ container and $400 per 40’ container

Further rate restorations to be applied during 2010 will be announced in due course.

Orient Overseas Container Line (OOCL) is a wholly-owned subsidiary of Hong Kong Stock Exchange listed Orient Overseas (International) Ltd. Headquartered in Hong Kong, OOCL is one of the world's leading container transport and logistics service providers, with more than 280 offices in 55 countries. Linking Asia, Europe, North America, the Mediterranean, the Indian sub-continent, the Middle East and Australia/New Zealand, the company offers transportation services to all major east/west trading economies of the world. OOCL is one of the leading international carriers serving China, providing a full range of logistics and transportation services throughout the country. It is also an industry leader in the use of information technology and e-commerce to manage the entire cargo process. Website: http://www.oocl.com/