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 Today


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

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

Contracts

Sea IT, Veritas Tankers Ink Long-term Software Deal

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry,

Interior Facelift for Queen Mary 2

Cunard’s luxurious flagship, the iconic 2,620 passenger ocean liner Queen Mary 2, will undergo an interior refit at the hands of McCue Marine during a 25-day multimillion-pound

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

Finance

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Long Beach Sees Robust Container Growth

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Container Ships

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

First ‘Reachstacker’ Starts Duty in the Port of Ravenna

Liebherr Maritime Cranes delivered a LRS 545, the first model out of the new reachstacker series, to the Italian Port of Ravenna.   The Port of Ravenna is one

Long Beach Sees Robust Container Growth

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Logistics

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

First ‘Reachstacker’ Starts Duty in the Port of Ravenna

Liebherr Maritime Cranes delivered a LRS 545, the first model out of the new reachstacker series, to the Italian Port of Ravenna.   The Port of Ravenna is one

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

 
 
Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.0901 sec (11 req/sec)