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Freight Rates Continue Downward Spiral

(Linton Nightingale – Lloyd’s Loading List)

The familiar story of falling freight rates on the major trades continued last week, as carriers hope that the start of April brings similar fortunes to last year, when prices jumped in respect of recommended price increases.

The latest Shanghai Containerised Freight Index shows that Asia-north Europe box prices slipped below $600 for the first time in nearly two years to $586 per teu, down 5.5%, or $34, on the previous week.

Last year, carriers operating on the trade managed to implement a 44% increase at the start of April, from $843 per teu to $1,214 per teu, having, like this year, failed with their earlier attempts to push up prices in March. Click here to read more.

Related: Low Utilization Means Postponement for April GRIs on Asia-Europe Routes (The Loadstar)