Container shipping rates continue to fall

Global container shipping rates keeps on declining for the last 18 weeks due to an “abundance” of capacity on the Asia-Europe and Asia-US trade lanes,IFW reports.

The overall weekly index for container rates on services from Shanghai slipped 1.4% last week, compared with two weeks ago, to reach 1,242.87.

Meanwhile, rates on services from Shanghai to Northern Europe dropped US$25 per teu last week on the previous week, to US$1,510 per teu, while rates on services to the Mediterranean slipped $43 to $1,469 per teu.

Rates on services to the US west coast fell  $43, to reach $2,159 per feu, and services to the east coast were down $98 to $3,459 per feu.