The upturn in spot freight rates for container shipping continues. After last week’s trend reversal, with a 2% increase after 17 consecutive weekly drops, this week’s rates rose 3% compared to the previous week, settling at a $1,746/FEU average.
Shanghai–Los Angeles Freight rates on route were up 4% to $2,290/FEU, while Shanghai–New York tariffs rose by 6% to $3,420/FEU.
Drewry forecasts additional percentage rises for these two routes next week, mainly due to the general rate increases implemented in mid-October by the major shipping companies.
Tariffs are also going up on the Asia-Europe trade route. Shanghai – Rotterdam rates rose 4% on a weekly basis to $1,736/ FEU, while Shanghai – Genoa freight rates were up 2% to $1,855/FEU. Again, Drewry believes that they will continue to increase next week. It is likely that carriers will try to raise prices further and take advantage of the positive trend before the seasonal renewal of contracts.
Translation by Giles Foster
