Alphaliner: Freight rates down 40 percent since May

The freight rates between Europe and Asia have been practically free falling since June this year. According to Alphaliner, the shipowners’ plan to withdraw ships in the year’s final months is not enough to prevent further rate drops.

Photo: Maersk Line

The freight rates between Europe and Asia have gone down by 40 percent since May, and in spite of a total market share of 46 percent, the three biggest shipping companies, Maersk Line, MSC, and CMA CGM, have not been able to maintain price discipline, writes Alphaliner on Tuesday in its weekly newsletter, which paints a new and bleak picture of the market conditions for the world’s 19 leading shipping companies.

Following four successful rate increases in the period from December 2011 to May 2012, there have been three failed attempts since June, and the fight for market shares is brutal, even though two shipping companies have fallen off the wagon in the past 12 months.

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