Spot rates to US rise 6.5pc despite weaker Asia-Europe box rates
Time：2015-10-20
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According to Shanghai Shipping Exchange`s Shanghai Containerized Freight Index, the spot rates rose from a reading of 533.91 in the week ending October 9 to a reading of 568.71.
Rates from Shanghai to the US west coast increased from US$1,197 per FEU to $1,377 per FEU, while rates from Shanghai to the US east coast rose from $2,199 per FEU to $2,390 per FEU, reported American Shipper.
On the other hand, rates from Shanghai to northwest Europe declined from $259 per TEU to $233 per TEU, while rates from Shanghai to the Mediterranean decreased from $244 per TEU to $195 per TEU.
The majority of carriers are attempting to raise rates on European trades by $1,000 per TEU starting November 1 in a move to prevent rates falling further, according to container derivatives broker at Freight Investor Service in London, Richard Ward.
"Currently the container forward on the northwest Europe route is being priced at a substantial premium to spot with rates for Q1 2015 around 130 per cent higher than current levels of $233 per TEU," Mr Ward was quoted as saying.
"By comparison reports suggest fixed rates in the physical market are being priced at a marginal premium at around $300-350 per TEU."