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Platou: Asia-Europe rates down by 12 percent

Container carriers’ attempt to increase rates in the middle of March was only a limited success. According to Platou, the latest SCFI figures on the route between Asia and Europe show a drop of 12 percent. Platou estimates that it will be difficult for carriers to succeed in a rate increase.

According to Platou, container rates on Asia-Europe have dropped by 12 percent this week. Platou says this shows that the carriers’ attempt to increase rates on 15 March has been unsuccessful.

“Box rates from Asia-Europe fell USD 169 to USD 1.254/TEU this week, thereby erasing last week’s general rate increase of USD 600-700/TEU to only 39% implementation success rate,” Platou comments.

Following Maersk Line’s announcement of a new rate increase on 15 April of USD 500/TEU, Platou states that the handled volumes at the time in question are traditionally higher but adds that:

“We continue to expect liners to struggle to maintain rates above cash break-even which we estimate at USD 1.200/TEU."

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