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.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
DSV in Shanghai: "There may be 50% of drivers working at the moment"
The long-term lockdown of major city Shanghai has seriously affected land logistics at one of the world trade’s crucial hubs. It will take time to get infrastructure back to normal, predicts DSV regional head to ShippingWatch.
West coast port chief Cordero doesn’t see labor deal by July 1
Negotiations regarding a new labor agreement for port workers on the US west coast began May 10, but according to Port of Long Beach’s CEO, Mario Cordero, a deal will not be in place by July 1.
IMO breakthrough on CO2 levy spurs optimism among carriers and NGOs
Industry stakeholders and NGOs describe meetings last week leading up to IMOs climate session in June as a breakthrough for a global CO2 levy considered the single most important tool to decarbonize shipping. ”A huge step forward,” says researcher Tristan Smith.
Schulte Group Chairman reluctant to invest: "There is simply too much uncertainty"
Coffers are filled with money ready to be spent on investments, but German Schulte Group holds on to its capital for the time being. ”There is simply too much uncertainty,” says Group Chair Heinrich Schulte.
Harald Fotland takes over at Odfjell: "Goals are set, but there may be some adjustments"
To replace Kristian Mørch, the Odfjell family has chosen a new chief executive who truly knows the chemical tanker carrier from within and aims to ensure continuity. ShippingWatch has interviewed Harald Fotland regarding his plans and priorities for the Norwegian carrier.
Port Director for the Port of Kolding 
Technical Controller 
Team Manager 
Marine Sales Executive - Performance Coatings 
Senior Finance Business Partner