Peak season 'washout' looms in container shipping as spot rates collapse
Time：2016-08-09
Browse：176
In the last week of July, North Europe spot rates surged 57.8 per cent to $1,125 per TEU ahead of August 1 general rate increases and peak season surcharges, reports London`s Loadstar.
Optimism among shipping lines of seeing a peak season this year is out-of-place, with Drewry Maritime Equity Research (DMER) expecting "a washout peak season in the offing".
Rumours are circulating that some forwarders in the market are offering "guaranteed shipment" rates several hundred dollars below the current SCFI level, especially for UK ports, where post Brexit the weakened sterling has had a notable impact on forward bookings, the report said, citing one carrier source.
And it remains to be seen whether any of the planned mid-August GRIs and peak season surcharges (PSS) will be attainable.
APL is to apply a $250 per TEU peak season surcharge on all Asia-Europe sailings from August 15 and earlier NYK announced it would raise rates by $620 per TEU on August 15 as part of a "structural revenue recovery" programme.
Meanwhile, spot rates to Mediterranean ports also fell, losing 13.8 per cent in the first week of August to $865 per TEU, after a gain of $340 the previous week.
Capacity between Asia and the US is said to be "tight", which was reflected in the US west coast and east coast components of the SCFI which slumped only three to four per cent to $1,277 and $1,884 per FEU respectively.