Wednesday, August 25, 2010

Ocean Container Rates Still on the Decline

(International Freighting Weekly – Damian Brett)

Carriers reported to be cutting prices and looking for post-peak season guarantees

Global ocean container rates fell last week and forwarders say shipping lines are starting to look to guarantee cargo for after the peak season. For the week ending 20 August, the global Shanghai Containerised Freight Index, which is based on rates for 15 different destinations from Shanghai, dropped 13.46 points on the previous week to reach 1,513.60.

The index showed that all-in spot rates on services to European ports last week dropped by US$20 per teu on a week earlier, to reach $1,847.

Over the last four weeks, westbound Asia-Europe rates have dropped $43 per teu, according to the index. Read more here.