Rates between China and Europe continue to drop

The spot rate between China and Europe, which is particularly important to Maersk Line, has now dropped with 35 percent since the summer peak of $1888 per twenty-foot container in late June, writes Ritzau Finans.

Photo: Maersk Line

Following several months of decreasing rates, Shanghai Shipping Exchange’s total rate index increased with 1.5 percent this week. The analysts at Fearnley explain that the increase in the Pacific alone, with the imminent port strikes on the American East Coast, will increase traffic on the West Coast.

For the tenth week, out of the 11 last weeks, the spot rates dropped, according to the established Shanghai Containerized Freight Index (SCFI). This week, the spot rate of a twenty-foot container from Shanghai to Northern Europe fell to $1218, a drop of $66 or 5.1 percent in comparison with the previous week, writes Ritzau Finans.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Related articles

Latest news

See all jobs