Asia N.Europe Box Rates PLunge 10.5 pct
Container spot freight rates from Asia to Northern Europe fell 10.5 percent to $771 per twenty-foot equivalent units (TEU) last week, data from the Shanghai Shipping Exchange showed.
Specifics of the Intermodal news include:
- Freight rates from Asia to ports in the Mediterranean fell 19.2 percent to $699 per TEU
- Freight rates from Asia to the U.S. West Coast fell 4.1 percent to $1,225 per forty-foot equivalent unit (FEU)
- Freight rates from Asia to the U.S. East Coast fell 6.2 percent to $1,768 per FEU
Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent. It controls around 20 percent on the world's busiest routes between Asia and Northern Europe (Reporting by Copenhagen newsroom