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Drewry: Shippers have negotiated rates way down

Container carriers are currently sailing cargo on the key East-West routes for decidedly lower freight rates than last year, writes Drewry, projecting that the rates will decline further from the second quarter as shippers negotiate lower contracts.

Photo: Hapag-Lloyd

The price to ship goods on container vessels on the major East-West routes declined on average by five percent in the period from November 2015 to February 2016, which means that the average freight rate on these trades has now plummeted by all of 20 percent compared to February last year.

This is reflected in new data from Drewry Benchmarking Club, which compiles numbers from major multinational shippers and manufacturers.

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