Asia-Europe off 26.7pc to US$469/TEU, down 7.9pc to USWC, 9.9pc to USEC
Time：2015-08-24
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The Shanghai Containerised Freight Index (SCFI) rates also fell 32.1 per cent from Asia to ports in the Mediterranean.
The SCFI reported an eight per cent decrease to $1,585 per FEU from Shanghai to the US west coast - and down 22 per cent from a year ago.
All-water spot rates to the US east coast were 10 per cent down from the week before to $2,846 per FEU - and down 32 per cent from a year ago
It was the third consecutive week of falling freight rates on the world`s busiest route and prices are now nearly 60 per cent lower than three weeks ago.
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.
Demand is growing on both coasts, notes Newark`s Journal of Commerce. Volume through the east coast rose 6.9 per cent from June and was up 12.6 per cent year on year, according to statistics from PIERS. West coast traffic gains in July were more moderate, with traffic rising 1.2 per cent from June but still down 1.9 per cent year on year.