Carriers seek rate hikes in Asia-Europe, as consumer demand picks up
- Details
- Published Date
- Written by Super User
- Category: NEWS
- Hits: 3504
SHIPPING lines are seeking a general freight rate hike to stick in July on the Asia-Europe trade after prices on services to northern Europe picked up steam.
The latest figures from the Shanghai Containerised Freight Index show that freight rates on services from Shanghai to northern Europe increased by US$19 on a week ago to $1,202 per TEU.
Prices from Shanghai to the Mediterranean slid $90 week on week to $1,671 per TEU, with reports suggesting this could reflect a decline in utilisation over the Ramadan holidays, reported Lloyd's List.
Freight Investor Services (FIS) broker Richard Ward said: "Carriers will hope that July offers more support than what has been witnessed from the June attempt with the SCFI showing an increase over the past few weeks of just $47 per TEU."
In mid-June 2013 prices to northern Europe stood at $533 per TEU and to the Mediterranean, the SCFI reached $1,202 per TEU. For services to the Mediterranean, the average weekly price stands at $1,550 per TEU, compared with $1,173 last year.
On the transpacific trade, Drewry's Hong Kong-Los Angeles Container Rate Benchmark stands at $1,750 per FEU, the same price as a week ago.
Analysts said they expect "prices to increase over the coming weeks on the back of a peak-season surcharge of $400 per FEU as requested by the rate-recommending group, the Transpacific Stabilisation Agreement.
Asian Shipper News
Newer news items:
- CSCL starts new direct service from Vietnam to Europe - 03/11/2015 07:10
- Another big mile stone for Vietnam Logistics sector - 26/09/2015 03:46
- Four carriers to launch joint intra-Asia service - 26/11/2014 09:54
- Maersk Line to raise Asia-Europe rate US$575/TEU starting July 1 - 26/11/2014 09:52
- P3 rejection sends European carriers, ports scrambling - 26/11/2014 09:43
Older news items:
- Ba Ria - Vung Tau: Full development of logistics - 26/11/2014 09:30
- Logistics restructure investments for decisive battle - 26/11/2014 09:26
- Etihad Cargo flies to Tanzania, Switzerland, U.S. - 26/11/2014 09:22
- Cathay ends Manchester freighter flights, opts for passenger bellyholds - 26/11/2014 09:15
- Turkish Airlines adds flights to Münster as its 13th destination in Germany - 26/11/2014 09:10