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SHIPPING NEWS » CONTAINER

Container Trades Statistics: Asia-Europe April rates decline 10pc

THE average Asia-Europe all-in freight declined 10 per cent in April, according to Container Trades Statistics (CTS)
Sunday, 05.Jun.2011, 23:56 (GMT+3)

THE average Asia-Europe all-in freight declined 10 per cent in April, according to Container Trades Statistics (CTS), which also revealed that rates on routes to the western Mediterranean, North Africa fell 7.4 per cent and nine per cent on eastern Med and Black Sea trade lanes.

The declines explain why most ocean carriers are now losing money in the tradelane, according to London's Containerisation International. Maersk bunker formula levied US$135 per TEU on shippers in April to keep up with mounting fuel costs has since soared to US$205 per TEU in May and US$250 per TEU in June.

The westbound freight rate has been declining since August and coincides with the arrival of a wave of postponed super postpanamax ships from Asian yards, said the report.

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