Container Freight Rates Fall 31% on Week for Key Asia-Europe Trade Route

COPENHAGEN, Sept 25 (Reuters) – Shipping freight charges for transporting containers from ports in Asia to Northern Europe fell 31 p.c to $313 per 20-foot container (TEU) within the week ended on Friday, one supply with entry to knowledge from the Shanghai Containerized Freight Index informed Reuters.

It was the third consecutive week of falling freight charges on the world’s busiest route. Rates at the moment are on lowest degree since June 19 and extensively seen as a loss-making degree.

Container spot freight charges have to date elevated in 8 weeks this 12 months however fallen in 29 weeks.

In the week to Friday, container freight charges dropped 30.1 p.c from Asia to ports within the Mediterranean, fell 6.4 p.c to ports on the U.S. West Coast and had been down 4.5 p.c to ports on the U.S. East Coast.

Maersk Line, the worldwide market chief with greater than 600 container vessels and a part of Danish oil and transport group A.P. Moller-Maersk, is essentially the most worthwhile of the ten largest container transport firms.

The Danish transport firm controls round one fifth of all transported containers from Asia to Europe, and one among its vessels name a port someplace on this planet each twelve minutes year-round. (Reporting by Ole Mikkelsen; modifying by Sabina Zawadzki)

(c) Copyright Thomson Reuters 2015.