ShippingWatch

Rates down for the ninth week in a row

The SCFI spot rate indeks from the Shanghai Shipping Exchange declined in the past week, for the ninth week in a row. The freight rates on Asia-Europe, in particular, are hit hard by an ongoing price war.

Photo: CMA CGM

On the same day that the Maersk Group published its financial report for the first quarter of 2013, the Shanghai Shipping Exchange's SCFI spot rate index presented yet another decline. The rates went down for the ninth week in a row. The total index went down, in which the routes from Asia to Europe and the Mediterranean account for 20 and 10 percent, respectively.

The index went down by 2 percent, to 990.78 from 1009.48 points. The index has declined from 1213.3 since mid-March, a total decrease 18.3 percent.

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