Asia-N. Europe container freight rates drops 12.4%
Monday, 23 March 2015 00:00
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COPENHAGEN: Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 12.4% to $ 620 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerised Freight Index told Reuters.
It was the seventh consecutive week with falling freight rates on the world’s busiest trade route and the current level is the lowest seen since June 2013.
In the week to Friday, container freight rates dropped 15.5% from Asia to ports in the Mediterranean, and fell 4.7% to ports on the US West Coast and were down 4.7% to ports on the US East Coast.
Denmark’s Maersk Line, the most profitable container shipping company, will spend $ 9 billion on new ships over the next three years, including on a number of ultra-large vessels it will order in the second quarter, its chief executive told Reuters in an interview in February.
