Marine Link
Saturday, September 24, 2022

Asia-Europe Container Shipping Rate Falls 5.5%

Maritime Activity Reports, Inc.

July 18, 2014

Reportedly, shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 5.5 percent to $1,230 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.

It was the second consecutive week of falling freight rates on the world's busiest route. Container freight rates have so far increased in nine weeks this year but fallen in 20 weeks.

Average rates for 2014 are $1,275 per TEU compared with $1,090 last year. The comprehensive index fell 1.8 percent to $1,080 per TEU.

Maersk Line, the global market leader with nearly 600 container vessels and part of Danish oil and shipping group A.P. Moller-Maersk, was one of the few container shipping companies to make a profit last year.

The Danish shipping company controls around one fifth of all transported containers from Asia to Europe.

(By Ole Mikkelsen)
 

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week