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>


<< Mar 2018 >>
26 27 28 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 31 1

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >