Asia-Europe Container Freight Rates Down 2.8 pct

Shipping spot freight rates for transporting containers from ports in Asia to Northern Europe fell 2.8 percent to $205 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 tenth consecutive week of falling freight rates on the world's busiest route and the average level this year is so far $435 per TEU, nearly half the average of the same period last year when it stood at $953 per TEU.

The current level is widely seen as loss-making for container shipping companies like Danish Maersk Line, Switzerland-based MSC, French CMA CGM and German Hapag Lloyd .

In the week to Friday, container freight rates fell 3.9 percent from Asia to ports in the Mediterranean, fell 6.0 percent to ports on the U.S. West Coast and were down 3.0 percent to ports on the U.S. East Coast.

Maersk Line, the global market leader with a market share around 15 percent and part of Danish shipping and oil group A.P. Moller-Maersk, reported in February a loss of $182 million for the fourth quarter. It was the first time since the first quarter of 2012 it reported a negative quarterly result.

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

Reporting by Ole Mikkelsen