Where are Container Shipping Rates Going?

MarineLink.com
Monday, July 08, 2013

The market index for Asia to North-Europe is still on the decline, the average for a 20ft saw a 19% drop since 26th of May compared to the 26th of June reports Norwegian price comparison company Xeneta.

The market average for a 40ft in Asia to North-Europe performed similar with a 20% decline in container shipping rates in the same period.

The rate pressure is higher than ever with the announced general rate increase on July 1, where ocean carriers are attempting to push GRI’s up to $1000 per 20ft container – the highest increase ever. The rates are expected to rise from today’s levels, as the average prices for trade lanes like Shanghai to Rotterdam is as low as $877 per 20ft and $1,488 per 40ft, last tracked on the 26th of June. Compared to May, that’s a 13% decrease on 40ft and 10% decrease on 20ft.

“We saw in March after the GRI was released that the prices held steadily for a couple of weeks, but dropped significantly in the beginning of April. So it’s pure guesswork to say how long prices will hold with ocean rates being as volatile as they are,” says COO of Xeneta, Thomas Sørbø. “The lowest rate we’ve seen per today is less than $500 on Qingdao to Le Havre for a 20ft container.”

Xeneta’s market index also reports that the average rate for a 40ft container, on several other key trade lanes like Shanghai to Felixstowe, was at $1,500 and Tianjin to Antwerpen was at $1,583. These two trade lanes are just a small part of the growth Xeneta has seen with its 2300 port pairs and it continues to grow as more shippers and suppliers take part.

http://www.xeneta.com
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

Wartsila Sees Low Oil Price Impacting Shipping

CEO cautious on 2015 outlook. Finnish ship engine and power plant maker Wartsila reported a smaller-than-expected quarterly profit and warned lower crude prices

Directorate Changes at Fastnet

Fastnet, the UK and Irish listed E&P company focused on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, announces certain management

Finance

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

Wartsila Sees Low Oil Price Impacting Shipping

CEO cautious on 2015 outlook. Finnish ship engine and power plant maker Wartsila reported a smaller-than-expected quarterly profit and warned lower crude prices

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Container Ships

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Pacifica Rolls Out New Container Vessel

Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff.

Puget Sound Container Volumes Flat in 2014

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma.

Logistics

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1365 sec (7 req/sec)