ShippingWatch

Rate increase on Asia-Europe petering out

Last week the effect of the rate increases that the major carriers implemented on the container routes between Asia and Europe earlier this month decreased for the second consecutive week.

The effect of the rate increases implemented by the major container carriers on routes between Europe and Asia earlier this month has dropped further, according to data from the Shanghai Shipping Exchange.

The price for shipping a twenty-foot container (teu) between Asia and Europe dropped 6.6 percent last week, to USD 1,149. This followed a 9.1 percent decline the week before, after an 88 percent increase two weeks ago - at USD 634, up to USD 1,353 - when the announced general rate increases (GRI) were implemented.

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