Asia-US spot rates was down 5.6 per cent to US$1,561 per FEU in the fourth week of September from $1,525 the previous week, accumulating to a 37.4 decline in the past one year, according to the figures of Drewry Shipping Consultants' weekly index, Shippingazette reported.
The decrease was a result of "a soft peak season for pre-holiday imports from Asia", said Newark's Journal of Commerce, adding that this worsened the overcapacity problem.
The Drewry index reached this year's pinnacle in January at $2,119 per FEU and then fell gradually to the present level. It was at the level of around $1,850 level for a few weeks in August before falling to a lower point in September.
The decrease was a result of "a soft peak season for pre-holiday imports from Asia", said Newark's Journal of Commerce, adding that this worsened the overcapacity problem.
The Drewry index reached this year's pinnacle in January at $2,119 per FEU and then fell gradually to the present level. It was at the level of around $1,850 level for a few weeks in August before falling to a lower point in September.
