Asia-Europe Spot Freight Rates Bounce Back

Image Courtesy: BSM

The downwards trend line in Asia-Europe spot freight rates has finally been reversed, data from World Container Index Shanghai-Europe shows.

Whereas the first four months of 2016 saw 50% or larger reductions in freight rates and record-low spot rate levels, a series of five consecutive monthly rate increases that started in April and continued again on August 1 has resulted in a return to an upwards trend line, according to shipping consultancy Drewry.

“Shippers and cargo owners booking under spot rates enjoyed huge cost reductions while carriers suffered substantial revenue shortfalls in early 2016 on the Asia-Europe route but, as we predicted, this extreme situation did not last,” said Philip Damas, director at Drewry, which jointly owns WCI alongside Cleartrade Exchange.

The average Shanghai-Rotterdam spot rate of just USD 772/40ft container for the period January-April nearly doubled, from a low base, to USD 1,467 on average for the period to May-August. Shanghai-Rotterdam WCI rate is USD 1,914, up 52% on last week and up 6% on the same week of 2015.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >