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Thursday, August 16, 2018

Asia N.Europe Box Rates PLunge 10.5 pct

Maritime Activity Reports, Inc.

August 15, 2016

A containership alongside engaged in cargo operations in the port of Hamburg, Germany (port of Hamburg)

A containership alongside engaged in cargo operations in the port of Hamburg, Germany (port of Hamburg)

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

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