Container Index Shows Large Hike in Asia-to-Europe Rates

Press Release
Thursday, April 05, 2012

London - Today’s Shanghai-to-Rotterdam container freight rate assessment from the World Container Index (WCI), a joint venture between Drewry and The Cleartrade Exchange, shows that container freight rates in the westbound Asia-Europe corridor increased by 28 percent this week, adding upwards pricing pressure on shippers only one month after the previous large rate increases.

The World Container Index’s Shanghai-Rotterdam container freight rate sub-index went from $2,654 per 40-foot container on March 29 to $3,408 per 40-foot container on April 5, a rise of $754 per feu.

Carriers in the key Asia-Europe head haul trade had announced General Rate Increases (GRIs) of about $400 per teu (or $800 per 40-foot container) from April 1. The index shows that carriers were able to enforce the vast majority of the requested price increase.

“The World Container Index assessed by Drewry tracks and documents what is currently a dramatically volatile market,” said Philip Damas, director at Drewry. “This week’s rate increase results not only from the reduction in Asia-Europe operated capacities, but also from the new carrier behavior of announcing and sticking to large rate increases.”

“Looking ahead, we must question how sustainable these high Asia-to-Europe freight rates are, given the latent capacity currently parked by carriers and tramp owners, and given the expectation of deliveries of large new ships from the shipyards,” Damas added. 
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Diana Containerships in Red, Suspends Dividend

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping

Panama Canal: Assessing the Risk & Reward

The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016.

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

News

Container-on-barge Returns to Baton Rouge

Container-on-barge services have returned to the Port of Greater Baton Rouge to provide the petrochemical industry with another option to move its products.   Operated by SEACOR AMH,

Cenac Marine to Christen Newest Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Enterprise to Export First Ethane Cargo from Houston Terminal in August

Enterprise Products Partners on Thursday said the first ship to load ethane for export from its new terminal on the Houston Ship Channel will arrive on Aug. 1,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0834 sec (12 req/sec)