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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.

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