News
Spot rates for carrying containers from Asia to the Middle East exceeded the 1,000-per-TEU line in December 2019, the first such development in five years and a month, or since November 2014. At a time when tension has still been running high in the region since the beginning of 2020, some container shipping lines are striving to impose war risk surcharges (WRSs). They are, therefore, expected to remain at high levels for the time being.
Spot freight rates from Asia to the Middle East were bearish in 2018, averaging $461 per TEU, according to the Shanghai Shipping Exchange (SSE), which unveils the Shanghai Containerized Freight Index (SCFI). In 2018, however, they increased some 58% from the previous year to $730 per TEU on average. In December, in particular, they reached as high as $1,027 per TEU.
