Asia-Europe rates reach new low for 2013 down 9.5pc to US$999/TEU
SPOT rates on the Asia-Europe trade have fallen below the US$1,000 per TEU mark for the first time this year, dropping 9.5 per cent to $999 per TEU, according to the latest Shanghai Containerised Freight Index (SCFI).
Over the course of the last six weeks the trade has seen consecutive rate declines, totalling $419. Rates on the trade are now at their lowest since December 7 last year.
Asia-Mediterranean rates have also fallen below the $1,000 mark last week, contracting 7.1 per cent to $960 per TEU, down from $1,104 per TEU the week prior.
Rates from Asia to the US west coast have contracted 4.3 per cent to $2,189 per FEU, while rates to the east coast are 3.3 per cent down from a week earlier to $3,332 per FEU.
Across all trades covered by the index the SCFI dipped four per cent to 1,072.81 points.
SPOT rates on the Asia-Europe trade have fallen below the US$1,000 per TEU mark for the first time this year, dropping 9.5 per cent to $999 per TEU, according to the latest Shanghai Containerised Freight Index (SCFI).
Over the course of the last six weeks the trade has seen consecutive rate declines, totalling $419. Rates on the trade are now at their lowest since December 7 last year.
Asia-Mediterranean rates have also fallen below the $1,000 mark last week, contracting 7.1 per cent to $960 per TEU, down from $1,104 per TEU the week prior.
Rates from Asia to the US west coast have contracted 4.3 per cent to $2,189 per FEU, while rates to the east coast are 3.3 per cent down from a week earlier to $3,332 per FEU.
Across all trades covered by the index the SCFI dipped four per cent to 1,072.81 points.