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Freight Rate

Asia to Northern Europe Shipping Rates Jump 177%

Photo by Maersk Line

 Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange.   As all major container shipping lines implemented a price hike announced earlier, the  freight rates rose nearly three-fold.   Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in available vessels and sluggish demand in goods to be transported. Rates generally deemed profitable for shipping companies on the route are at about $800-$1,000 per TEU.   Maersk Line attempted to lift freight rates by $1,000 from Aug. 1.  It controls around one fifth of all transported containers from Asia to Europe.   In the week to Friday, container freight rates rose by 178.4 percent from Asia to ports in the Mediterranean, by 43.1 percent to ports on the U.S. West Coast and were up 20.2 percent to ports on the U.S. East Coast.  


Mediterranean/N.American Freight Rate Stagnancy

Image credit APM

Ocean carriers were unable to increase freight rates between the Mediterranean and North America from November to January due to continuing poor vessel utilisation and the approaching threat of P3, according to the latest edition of Drewry's Container Insight Weekly. Westbound According to Drewry’s Container Freight Rate Insight, the average all-in freight rate quoted to forwarders for spot cargo from Genoa to New York remained a poor $1,950/40ft throughout.


Index-Linked Container Contracts Take-Off

Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks.   Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing


Asia-N.Europe Box Rates Hit 6-Year Low

file photo

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday, a source with access to Shanghai Containerized Freight Index data told Reuters. Freight rates on the world's busiest trade route are now at the lowest level since the index began in 2009 and have more than halved this month. Overcapacity of vessels and sluggish trade are behind the fall.


Asia-Europe Box Rates Slip 10 pct Last Week

A Maersk containership loading at berth (File image)

Freight rates for shipping containers from Asia to northern Europe fell 10 percent to $233 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fifth consecutive week of falling freight rates on the world's busiest route. Rates are at their lowest since June 19, and widely seen as at loss-making levels. Rates dropped 20 percent from Asia to ports in the Mediterranean


Global Shipping in Doldrums

Photo: Maersk Line

 Wells Fargo Securities says that headwinds face global shipping industry and the continued overcapacity means freight rate gains are less likely to stick.   "Given the continued overcapacity headwinds and easing containerized trade demand, we believe these freight rate gains are less likely to stick, and we expect rates to remain under pressure as we approach the slack winter season, particularly following a muted peak season," says a report from Wells Fargo Securities


Freight Rate Trends: Upcoming Free Supply Chain Webinar

Image courtesy of Drewry

Drewry Maritime Research says it is hosting a free webinar for supply chain professionals to explain recent trends in ocean & air freight rates and provide an outlook for the future. The webinar presentation will examine and explain: Recent ocean & air freight rate trends on Global trades Economic drivers Drewry's outlook for freight rates The event will be hosted by Simon Heaney, Senior Manager, and Philip Damas


BIMCO: Bulk Market Awaits Freight Rates Lift

Photo courtesy of BIMCO

Dry Bulk Shipping: All eyes on Brazilian iron ore exports, as we await the long-anticipated lift in freight rates. Demand The freight market, which performed so well in Q1, has certainly not delivered in the past four months. BDI has dropped from 1,621 on March 20 to hit 747 on July 29. Panamax ships have not been above $10,000 per day since February 20, but below $5,000 per day for most of June and July. BIMCO expected challenging market conditions, also for Panamaxes, but rates below $4


Asia-Europe Box Rates Fall Again

File Image (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fourth consecutive week of falling freight rates on the world's busiest route, and the current level is widely seen as loss-making to shipping companies.


Asia-N.Europe Box Rates Dive 13 pct

The CMA CGM Ben Franklin loads cargo alongside the pier (file image: Marad)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 13.1 percent to $636 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. The shipping industry has been battling overcapacity linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009.


Tanker Market Could See Difficult Q2, Q3

File Image (CREDIT: AdobeStock / Carabay)

New vessels expected to hit freight rates; new trade route from east U.S. to Asia to meet Chinese demand.   The tanker market may face a "difficult" second and third quarter this year after a robust first quarter as supply of newly built vessels loom


Demolition Activity Weakens as BDI Moves Higher

Graph: BIMCO

 After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates, says BIMCO market analysis of Dry Cargo. 


Drewry Trims Long-Term Freight Rate Outlook for LNG shipping

Graph: Drewry Shipping Consultants Limited

 Given the mounting pressure on freight rates and continuing fleet growth over the next two years, Drewry believes that excess vessel supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year


Baltic Exchange Chief Outlines Growth Plan

Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the


Asia Tankers-VLCC to Stabilise as Owners Stand Firm

File Image (CREDIT: AdobeStock)

40 MidEast VLCC cargoes fixed for early April loading.   Freight rates for very large crude carriers (VLCCs), which have fallen to six-month lows, are likely to hold steady around current levels as owners resist charterers' attempts to push rates lower, brokers said.  


Asia Dry Bulk-Capesize Rates Set to Climb Again

File Image (CREDIT: AdobeStock / Lidian Neeleman)

Capesize rates hit new multi-month highs this week; BHP and FMG likely to renew chartering activity next week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-month highs on Tuesday, could climb further on increased chartered activity by miners


Baltic Index Drops as Cyclone Dampens Demand

On March 29, 2017 at 3:24 a.m. UTC the VIIRS instrument aboard NASA-NOAAs Suomi NPP satellite captured this visible image of Tropical Cyclone Debbie over Queensland, Australia. (Photo: NASA/NOAA)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday as closure of mines and ports in Australia due to a cyclone weighed on demand for capesize vessels. Cyclone Debbie, which struck Queensland this week


DHL Says Ocean Freight Rates at Turning Point

© dbvirago / Adobe Stock

Demand for ocean and air freight has been better than expected this year, with increasing volumes and rates finally improving after years in the doldrums, executives from freight forwarding company DHL, part of Deutsche Post DHL Group, said.


Asia Tankers-VLCC Rates to Climb as Asian Refiners Restock

File Image: A typical VLCC underway (EuroNav)

Rates to climb to around W65 from MidEast to Asia; W70 from West Africa.   Freight rates for very large crude carriers (VLCCs) are set to rise further as Asian refiners rebuild inventories after plants were reactivated following maintenance outages, brokers said on Friday.  


Capesize Rates Further Impacted by Cyclone Debbie

© Lidian Neeleman / Adobe Stock

Coal shipments from eastern Australia could stop for 3-4 weeks.   Freight rates for large capesize dry cargo vessels on key Asian routes, which fell to multi-week lows this week, are likely to remain depressed in the absence of Australian coal cargoes and iron ore and coal from South Africa


EU Regulators to Clear Maersk, Hamburg Sud Tie-up

Photo: Hamburg Sud

EU antitrust regulators will approve Maersk Line's acquisition of German peer Hamburg Sud after the world's biggest shipping company agreed to pull Hamburg Sud out from some trade route groups, a person familiar with the matter said on Friday.


China COSCO to Post Profits for Q1

MV. COSCO LONGBEACH Photo:  China COSCO Holdings Company Limted

Boosted by an improving market and cost savings from a recent merger, China’s COSCO Shipping Holdings expected to report a profit in the first-quarter, says a report by Reuters.   In a stock market statement the  world's fourth-largest container shipping line said that it expects


Quality of Ocean Carriers “Poor to Average”

Image: Drewry Shipping Consultants Limited

 The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey of exporters, importers and freight forwarders conducted jointly by Drewry and the European Shippers’ Council (ESC).  


MPC Rolls Out New Box Ship Investment Firm

Photo: MPC Capital AG

 MPC Capital AG, an international asset and investment manager, has initiated an investment company with a focus on small-size container ships between 1,000 and 3,000 TEU.    The newly formed 'MPC Container Ships AS' raised USD 100 million in equity in a private placement towards


Low Water hinders Rhine, Danube River Shipping

File Image: A typical Danube River pushboat and barge arrangement. (CREDIT: AdobeStock / (c) digitalstock)

Water levels on the Rhine and Danube in Germany remain low despite recent rain and freight vessels cannot sail fully loaded on the German sections of the rivers, traders said on Tuesday.   The Rhine is too shallow for normal sailings south of Duisburg and Cologne to Switzerland, traders said






 
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