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A-E rate falls to US$1,230/TEU, transpac up 39.5pc to $2,407/FEU

SPOT rates to Europe's northern range fell nine per cent to US$1,230 per TEU on the Shanghai Containerised Freight Index (SCFI), but still above the widely recognised $1,000 break even point.

A-E rate falls to US$1,230/TEU, transpac up 39.5pc to $2,407/FEU
22 December 2014 - 06:13
A-E rate falls to US$1,230/TEU, transpac up 39.5pc to $2,407/FEU

SPOT rates to Europe's northern range fell nine per cent to US$1,230 per TEU on the Shanghai Containerised Freight Index (SCFI), but still above the widely recognised $1,000 break even point.

Carriers have replied with rate increases announced for early January. Hong Kong's OOCL plans an $850 per TEU hike on January 8, while its G6 partner Hapag-Lloyd levy the same increase January 19, "indicating that the OOCL increase will have less chance of sticking", comments London's Loadstar.

China Shipping told UK importers that its rates were to rise $525 per TEU January 1 and CMA CGM will charge $500 per TEU, and NYK by $888 per TEU.

Meanwhile Drewry's benchmark spot rate from Hong Kong to Los Angeles increased 39.5 per cent to $2,407 per FEU. 

The increase was the biggest single-week fluctuation in the Drewry index this year, prompted by a $1,000 per FEU December 15 hike by the 15 carrier members of the Transpacific Stabilisation Agreement (TSA). 

"The increase shows that the TSA carriers were largely successful," Drewry said. "Drewry expects to see rates decline in the next few weeks as is now customary in the aftermath of GRIs."

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