Asia-Europe container freight rates up 44%

Monday, 31 March 2014 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Shipping freight rates for transporting containers from ports in Asia to Northern Europe have risen by 44% to $1,214 per 20-foot container (TEU) in the week to Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.

The increase comes after 11 consecutive weeks of falling rates on the world’s busiest shipping route. The container shipping industry has been struggling with overcapacity because of too many vessels and too few goods to transport as a result of the economic downturn.

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