Asia-Northern Europe container freight rate drops 10%

Monday, 19 January 2015 00:18 - - {{hitsCtrl.values.hits}}

Reuters: Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped by 10.1% to $975 per 20-foot container (TEU) in the week ended on 9 January, data from the Shanghai Containerised Freight Index showed. It was the fourth consecutive week with falling spot rates on the world’s busiest route. Container freight rates increased in 13 weeks in 2014 but fell

in 39 weeks. Maersk Line, the global market leader with nearly 600 container vessels and part of Danish oil and shipping group A.P. Moller-Maersk, was one of the few container shipping companies to make a profit in the first six month of 2014. Last week, Maersk Line said it would raise Asia-Europe freight rates by $800 per TEU with effect from 15 January. The Danish shipping company controls around one fifth of all transported containers from Asia to Europe.