Asia-Northern Europe Container Freight Rates Drop 12.4 Percent -Source

COPENHAGEN, March 20 – Shipping freight charges for transporting containers from ports in Asia to Northern Europe fell 12.4 % to $620 per 20-foot container (TEU) within the week ended on Friday, a supply with entry to information from the Shanghai Containerized Freight Index instructed Reuters.

It was the seventh consecutive week with falling freight charges on the world’s busiest commerce route and the present degree is the bottom seen since June 2013.

In the week to Friday, container freight charges dropped 15.5 % from Asia to ports within the Mediterranean, and fell 4.7 % to ports on the U.S. West Coast and had been down 4.7 % to ports on the U.S. East Coast.

Denmark’s Maersk Line, essentially the most worthwhile container delivery firm, will spend $9 billion on new ships over the following three years, together with on various ultra-large vessels it should order within the second quarter, its chief government instructed Reuters in an interview in February. (Reporting by Ole Mikkelsen; modifying by Sabina Zawadzki)