World News
Asia-Europe Box Rates See 26.7% Slide in a Week
Data from the Shanghai Containerized Freight Index shows that box rates on the Asia to Northern Europe route fell by 26.7 percent last week, ending at $469 per TEU by Friday, Marine Link reports.
Friday is said to have marked the third consecutive week sliding freight rates on the Asia to Europe route, with rates almost 60 percent lower than three weeks prior.
Container freight rates on the Asia to Mediterranean route dropped 32.1 percent during the week to Friday, while 7.9 percent and 9.9 percent decreases were seen on the Asia to U.S. West Coast and U.S. East Coast routes, respectively.
In July, it was reported that Maersk Line had intentions to increase freight rates on its Far East Asia (excluding Japan) to Europe route by $1000 per TEU.
In June, container-freight rates on the Asia to Europe trade route effectively dropped into negative territory for the first time in two years, with rates for Shanghai to Rotterdam costing only $243 per TEU including a $300 per TEU bunker surcharge.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25Government investigating after test results altered 'to make the fuel consumption data look better'. -
Apr 26The company is looking for candidates with bunker trading professional certifications and at least six years of experience in a similar role.