Rates are down 1% compared to the previous week. This week, spot container shipping rates remained largely stable, settling at an average value of $1,933 per FEU.
Tariffs for services connecting Shanghai and major US destinations have fallen, albeit slightly. Freight rates are down 1% on both the Shanghai-New York route (to $2,800/FEU) and the Shanghai-Los Angeles one (to $2,214/FEU). To cope with the weak market demand, carriers have announced a new wave of blank sailings. 57 scheduled departures have been cancelled over the next two weeks on the transpacific trade lane.
There’s a similar trend on the Asia-Europe one. Rates on the Shanghai-Rotterdam route fell by 2% to $2,127/FEU, while on the Shanghai-Genoa one they were down 3% to $2,965/FEU. Carriers have announced 24 blank sailings for the next two weeks.
Translation by Giles Foster
