Asia-Europe rates up for third week
Source:cargonewsasia 2014-5-14 9:48:00
Shipping freight rates for transporting containers from ports in Asia to northern Europe rose 7.4 percent to US$1,401 per TEU in the week ended on Friday, figures from the Shanghai Containerised Freight Index showed.
It was the third consecutive week of rising freight rates on the world's busiest routes,reported Reuters.
Container freight rates have so far increased in six weeks this year but fallen in 13 weeks.
Average rates for 2014 are $1,305 per TEU compared with $1,090 last year.
The container shipping industry has been struggling with overcapacity and too few goods to transport as a result of a faltering global economy.
Maersk Line, global market leader with nearly 600 container vessels and part of oil and shipping group A P Moller-Maersk , was one of the few container shipping companies to make a profit last year.
Germany's Hapag Lloyd, the sixth largest carrier, said on Friday it would attempt to hike rates on routes from Asia to northern Europe by $750 per TEU with effect from June 9, a 53 percent increase.