World News
Asia-Europe Freight Rates More than Double in the Final Week of 2015
Data from the Shanghai Containerized Freight Index (SCFI) shows that freight rates for Asia to Northern Europe routes jumped 115 percent to $1,232 per TEU during the week ending last Friday.
During the same week, freight rates for shipments from from Asia to ports in the Mediterranean swelled almost 147 percent to $1257 per TEU.
Meanwhile, rates on routes to ports on the U.S. West Coast and the U.S. East Coast grew by 98.2 percent ($1518) and 76.5 percent ($2555) per FEU respectively.
During 2015 as a whole, average freight rates are reported to have been $620.30 per TEU, a significant decline compared to rates of $1,171.50 during 2014.
Earlier this year, it was reported that container freight rates on the Asia-to-Europe trade route dropped below shipping companies' fuel costs for the first time in two years.
At the beginning of December, it was reported that freight rates for containers out of Asia fell over 50 percent for some routes during the week ending December 4.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 596.00 | 6.00 | 687.00 | 14.50 |
| Rotterdam | 524.50 | 0.50 | 683.00 | 13.50 |
| Houston | 538.00 | 7.50 | 668.50 | 9.50 |
| Fujairah | 582.50 | 1.00 | 770.50 | 12.00 |
| Global 20 Ports Average | 596.00 | 0.50 | 757.00 | 1.50 |
| Global 4 Ports Average | 560.50 | 4.00 | 702.50 | 12.50 |
| Global Average Bunker Price | 643.00 | 2.00 | 811.50 | 0.50 |
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