Container rate slumps 21pc in 2012, falls again after February peak
THE Drewry Hong Kong-Los Angeles FEU rate benchmark jumped 21 per cent to US$2,213 through 2012, according to data compiled by Bloomberg.
So far in 2013, the rate declined to $2,217 in the last week starting March 19 after climbing to its peak in February, said the report.
Carriers are expected to raise the rates by $400 on containers going from Asia to the US west coast and by $600 to all other destinations from April 1, according to Bloomberg.
The Baltic Dry Index, a benchmark for commodity shipping rates, fell 0.4 per cent to 931 points in London on March 26. It slumped to a 25-year low last year.
Shipping companies including Maersk have started raising rates to offset higher fuel costs and recover from industry-wide losses in 2011 because of a vessel glut.
THE Drewry Hong Kong-Los Angeles FEU rate benchmark jumped 21 per cent to US$2,213 through 2012, according to data compiled by Bloomberg.
So far in 2013, the rate declined to $2,217 in the last week starting March 19 after climbing to its peak in February, said the report.
Carriers are expected to raise the rates by $400 on containers going from Asia to the US west coast and by $600 to all other destinations from April 1, according to Bloomberg.
The Baltic Dry Index, a benchmark for commodity shipping rates, fell 0.4 per cent to 931 points in London on March 26. It slumped to a 25-year low last year.
Shipping companies including Maersk have started raising rates to offset higher fuel costs and recover from industry-wide losses in 2011 because of a vessel glut.