Asia-Europe spot rate to fall to US$677/TEU as transpac decline slows

A NEW week has brought little change to the direction of freight rates in the world`s big trades with Asia-Europe spot rates leading the decline of 2.9 per cent week-to-week to US$677 per TEU, according to the latest Shanghai Containerised Freight Index (SCFI).

Asia-Mediterranean rates fell 2.4 per cent from the previous week to $948 per TEU.


On the transpacific, the decline continues, but appears to have slowed at least, with Asia-US east coast rates down one per cent to $2,947 per FEU, while rates to the west coast dipped 0.6 per cent to $1,486 per FEU.


The slowdown in the rate decline on the US-bound trade lanes may in part be due to the recent increase in service suspensions on the transpacific trade, says UK-based shipbroker GFI Group.


The SCFI across all trades fell 0.9 per cent for the week to 939.16 points.