Asia-North Europe container spot rates eased back slightly this week, as carriers ‘hoovered up’ stockpiled cargo accumulated before Chinese New Year. However, rates from Asia to the US increased again. Today’s reading of the Freightos Baltic Index (FBX) for a 40ft from Asia to North Europe was $8,308, compared with $8,430 a week...
Ocean carriers are determined to keep container spot rates at their highly elevated levels for as long as possible, as they look to lock in annual contract customers with rate increases of 100% or more. And with no sign of a spot rate decline following the beginning of Chinese New Year last...
The 2M alliance has announced a further blank sailing this week from Asia to North Europe to use the vessel on another service. The last-minute cancellation of the sailing of the 19,224 teu MSC Erica from Shanghai on 21 February is surprising, given that the ship is due at the port at 4am on Sunday...
Shippers are resigned to the probability that container spot freight rates from Asia will remain at their current high levels for some time after Chinese New Year. Today’s beginning of the Chinese lunar new year would usually herald several weeks of downward pressure on freight rates, but so far there are no indications...
High levels of congestion at major container gateways have led to declining direct port calls by mainline Asia-North Europe vessels, and increased the likelihood that the UK could become a feeder market. Over the past few months, the ranks of deepsea vessels omitting direct calls and unloading UK-bound cargo at north-west continental Europe gateways have swelled,...
Shippers face many more months of inflated freight rates, as ocean carriers show no sign of easing their strategy of keeping capacity tight and favouring high-paying spot cargo. In a customer Q&A session this morning, Hapag-Lloyd CEO Rolf Habben Jansen said the carrier was still “flooded with bookings”. He said: “It will be...
Container shipping spot freight rates on the Asia-North Europe trade declined 2.7% this week – a further sign the recent exponential growth has levelled off. Today’s Shanghai Containerised Freight Index (SCFI) Shanghai-North Europe leg was $4,276 per teu, down $117 per teu from last week, as carriers began to release more equipment...
Container spot rates from Asia to North Europe are now 130% higher than at the start of the year, after a further spike this week. Today’s Shanghai Containerized Freight Index (SCFI) recorded a 13.5% increase in its North Europe spot rate, to $2,374 per teu – however, in practice, market rates are...
Container freight rates from Asia to Europe are going through the roof, mirroring the trend on the transpacific, with regulators seemingly unable to stop the relentless onslaught on shippers that threatens to sink business. European and US importers outside or in excess of contract are seeing their freight budgets destroyed by unprecedented...
Container spot rates continued to climb on the Asia-Europe trades this week on the back of strong demand and extremely tight capacity, in terms of both vessel and equipment availability. Today’s Shanghai Containerised Freight Index (SCFI) published a rate of $1,508 per teu for Shanghai-North Europe, an increase of $262 per teu...
