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Freight rates strained by lower volumes during Chinese New Year

Beyond the setback noted in the past week, global freight rates have generally been somewhat weak since the turn of the year, reports Drewry.

Photo: /ritzau/AP

Global freight rates on container shipping last week clung to a sustained trend by dipping even further – this time especially due to lower volumes during the Chinese New Year.

Drewry combined freight rates from eight of the world's biggest routes to and from the US, Europe and Asia into one single index. The analyst agency found that the global freight rates dropped 2.2 percent to USD 1464.90 per forty-foot container (feu) shipped, writes Sourcing Journal.

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