ASIA-Europe rates fell again last week for the fifth consecutive week, slipping 2.8 per cent to US$999 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
This is the first time that the average rate on the trade has been below the $1,000 mark since late February.
Rates from Asia to the Mediterranean also continued to stumble last week, down 3.2 per cent to $722 per TEU.
A number of shipping lines have announced rate increases on both the Asia-Europe and Asia-Mediterranean trades of around $600 per TEU, effective December 15 and 16. So there may be some upward adjustment in next week's SCFI. But much will depend on carrier discipline.
Rates were also down last week on the Asia-US trade lanes with west coast rates dipping 1.3 per cent to $2,019 per FEU and east coast rates down one per cent to $3,071 per FEU.
Across all trades covered by the index the SCFI contracted 2.8 per cent to 1,052.99 points.
CONTAINER
09 December 2012 - 17:05
Asia-Europe rates below US$1,000/TEU mark, slipping 2.8pc to $999
ASIA-Europe rates fell again last week for the fifth consecutive week, slipping 2.8 per cent to US$999 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
CONTAINER
09 December 2012 - 17:05
Asia-Europe rates below US$1,000/TEU mark, slipping 2.8pc to $999
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