News
Spot freight rates for exporting containers from China dropped last week, with that the rate for shipments from Shanghai to Europe going down 8.4% from the previous week to US$812 per TEU and that for containers from Shanghai to the Mediterranean, down 4.2% to $758 per TEU.
On the trade route to North America, the average load factor of services from Shanghai fluctuated around 95%. Due to intensified competition among shipping companies, however, the rate for containers destined to the west coast declined 1.5% to $1,473 per FEU, while those bound for the east coast were carried at a rate of $2,231 per FEU, which fell 2.1%.
On the route to the Middle East Gulf, the spot rate for services from Shanghai lowered 4.4% to $430 per TEU, as shipping lines brought down rates to attract cargo.
Meanwhile, services to Australia and New Zealand were provided at a rate of $706 per TEU, which just depreciated a minute 0.6%, as the supply-and-demand balance was stable.
The average load factors of containerships bound for South America managed to stay at about 95%. However, some carriers reduced freight rates, leading to a slowdown in the market. The spot rate was $2,241 pre TEU, which sank 6.9%.
