Asia-Europe off 23pc to US$640/TEU, but up 11.5pc to USWC, 5.8pc to USEC
Time:2015-08-17
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The Shanghai Containerised Freight Index (SCFI) rates also fell 21.4 per cent for shipments from Asia to ports in the Mediterranean to $880 per TEU.
But rates to the US west coast were up 11.5 per cent and increased 5.8 per cent to US east coast ports.
Break-even rates for the Asia-Europe trade are reckoned to be between $800-$1,000 per TEU.
Since January, eight attempts to raise rates have failed to stick, even as spot freight rates fell to an all-time low of less than $200 per TEU in June, due to weak cargo volumes and carriers` reluctance to cut capacity on a concerted basis, according to Alphaliner.