Asia-Europe rates in 20 pct setback

After two weeks with significant improvements in freight rates on the key tradelane between Asia and Europe, the tide has now turned once again.

Rates declined 20.5 percent this week, putting the current spot price for transporting a twenty-foot container, teu, from Asia to Europe at just USD 69, according to the Journal of Commerce.

In mid-June the rates on the key trade dipped to a historical low of USD 205 per container, a level that made it impossible for container carriers to make money.

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