A-E rate up 156pc to US$703/TEU, down 6.4pc to USWC, off 7.3pc to USEC
Time：2015-12-14
Browse：72
Rates dropped 25 per cent to $585 per TEU from Asia to ports in the Mediterranean, fell 6.4 per cent to $834 per FEU to ports on the US west coast and were down 7.3 per cent to $1,505 per FEU to ports on the US east coast, Reuters reported.
The Asia-Europe increase came as shipping lines levied rate hikes after prices dropped 50 per cent last week.
The week`s high percentage growth reflects a chronically low spot rate base, though falling bunker prices have done much to cushion the blow.
Clarksons says transpacific and Asia-Europe volumes will show low single-digit growth in 2016, with demand growth increasing to 5.6 per cent, higher than this year`s expected 3.6 per cent, reported IHS media.
However, Citi felt this was too aggressive considering global GDP growth was forecast to rise only 2.8 per cent against 2015`s 2.6 per cent.