Asia-Europe container freight rates falls 7.8 percent

By: | at 04:32 AM | Maritime  

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 7.8 percent to $1,341 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.

The drop came one week after a jump of 20.9 percent as a result of freight rate hikes implemented by container shipping companies.

Container freight rates have so far increased in 10 weeks this year but fallen in 22 weeks.

Average rates for 2014 are $1,280 per TEU compared with $1,090 last year. The comprehensive index fell 2 percent to $1,172 per TEU.

Maersk Line, the global market leader with nearly 600 container vessels and part of Danish oil and shipping group A.P. Moller-Maersk, was one of the few container shipping companies to make a profit last year.

The Danish shipping company controls around one fifth of all transported containers from Asia to Europe.


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