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Container rates from Asia dive below USD 300

The price to ship a container from the Far East to Europe continues to fall and is currently hovering at an all-time low of less than USD 300. According to Alphaliner, the announced, massive rate increases on May 1st look destined to fail.

While container carriers such as Maersk Line, Hapag-Lloyd and others have announced massive general rate increases (GRI) of USD 750 to 1,300 from May 1st on the routes between the Far East and North Europe, the rates for shipping a container between the two continents continue to fall to new lows week after week.

Last week, on April 17th, the benchmark SCFI index stood at USD 399 per teu, but right now the lowest offered rate in the spot market has already dropped below USD 300 - the lowest level ever registered on the routes between Asia and Europe, reports analyst agency Alphaliner on Tuesday.

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