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A-E rate off 34.9pc to US$518/TEU, transpac falls 8pc to $1,175/FEU
SPOT rates from Asia to north Europe fell 34.9 per cent last week to US$518 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
The SCFI rate to US west coast fell eight per cent to $1,175 per FEU and was down 2.9 per cent to $2,635 per FEU to the US east coast.
The Shanghai-Med SCFI rate fell 28 per cent from the previous week to $529, and down 68.8 per cent year on year.
Overall SCFI rates dropped 10.9 per cent last week after falling 10.7 per cent the previous week.
The 2015 year-to-date average rate to north Europe was $662 per TEU, down 48 per cent year on year.
Maersk, MSC, CMA CGM, CSCL, Cosco, "K" Line, MOL and UASC have all announced August 1 rate increases.
Alphaliner reports that the weak market has induced carriers to cut capacity deployment with the number of idled ships rising in the last two weeks - four of them, over 10,000 TEU.
The SCFI rate to US west coast fell eight per cent to $1,175 per FEU and was down 2.9 per cent to $2,635 per FEU to the US east coast.
The Shanghai-Med SCFI rate fell 28 per cent from the previous week to $529, and down 68.8 per cent year on year.
Overall SCFI rates dropped 10.9 per cent last week after falling 10.7 per cent the previous week.
The 2015 year-to-date average rate to north Europe was $662 per TEU, down 48 per cent year on year.
Maersk, MSC, CMA CGM, CSCL, Cosco, "K" Line, MOL and UASC have all announced August 1 rate increases.
Alphaliner reports that the weak market has induced carriers to cut capacity deployment with the number of idled ships rising in the last two weeks - four of them, over 10,000 TEU.
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