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Asia-Europe SCFI rates down for second week, but still up on last year
SPOT rates cited on the Shanghai Containerised Freight Index (SCFI) on east-west trade routes continued to fall last week, but were still ahead over last year at this time, noted Lloyd's List.
SCFI shows that average all-in spot rates on services from Shanghai to northern Europe fell US$99 to $1,188 per TEU. Shanghai- Med prices declined for a second week, by $54 to $1,508 per TEU.
Transpacific rates also fell with the Shanghai to US west coast prices declining $64 to $1,923 per FEU and slipping by $40 compared to the week before to reach $3,384 per FEU.
"Further declines are expected in the run up to the June general rate increase, with its success still in question," said Freight Investor Services broker Richard Ward.
"Carriers may have delayed the proposed June 1 implementation pushing the increase back to the following week. Mediterranean trades are different with rates falling less aggressively," said Mr Ward.
SCFI shows that average all-in spot rates on services from Shanghai to northern Europe fell US$99 to $1,188 per TEU. Shanghai- Med prices declined for a second week, by $54 to $1,508 per TEU.
Transpacific rates also fell with the Shanghai to US west coast prices declining $64 to $1,923 per FEU and slipping by $40 compared to the week before to reach $3,384 per FEU.
"Further declines are expected in the run up to the June general rate increase, with its success still in question," said Freight Investor Services broker Richard Ward.
"Carriers may have delayed the proposed June 1 implementation pushing the increase back to the following week. Mediterranean trades are different with rates falling less aggressively," said Mr Ward.
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