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

Contracts

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

G6 Alliance Extends Asia – North America Service

In response to market demand, members of the G6 Alliance today announced the below enhancement to improve the Asia – North America (East Coast) trade. NYK will

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Finance

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Container Ships

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

G6 Alliance Extends Asia – North America Service

In response to market demand, members of the G6 Alliance today announced the below enhancement to improve the Asia – North America (East Coast) trade. NYK will

Record Bulk Shipping Demolition Rates in 1H15

Monthly demolition rates in the dry bulk shipping sector averaged 3.3 million DWT for 1H15, according to new figures from BIMCO, compared to 1.3 million DWT last year.

Logistics

Grimaldi Orders Three PCTCs

After signing an order for the construction of five new ships two weeks ago, the Italian shipowner  Grimaldi Group has signed another contract for the construction

Is It Too Late To Tangle With Spike in Shipping Market

A series of interesting and extreme price spikes is going on in the shipping market today, says Clarksons, provider of global shipping and offshore market intelligence.

NITC Claims World's Largest Supertanker Fleet

According to the head of the National Iranian Tanker Company (NITC), Iran has 42 very large crude carriers or VLCCs, each able to carry 2 million barrels of oil, reports Press TV.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1589 sec (6 req/sec)