With vessel capacity tightening and demand increasing on the trans-Atlantic, OOCL has announced it will increase freight rates in both directions starting July 1.

The Hong Kong-based carrier’s move follows successful rate increases by several other carriers, including APL and Mediterranean Shipping Co. on April 1. Maersk Line announced a general rate increase effective July 1.

Rates on all westbound containers from Europe to the U.S., Canada and Mexico will go up by $400 per 20-foot-equivalent and $500 per 40-foot-equivalent;

Rates on all eastbound containers to Europe from the U.S., Canada and Mexico will increase by $320 per TEU and $400 per FEU.