Shipping freight rates for transporting containers from ports in Asia to northern Europe rose 7.4% to $1,401 (€1,021) per 20-foot container (TEU) in the week ended on Friday 11 May, data from the Shanghai Containerized Freight Index showed.
This is the third consecutive week of rising freight rates, along what is the world's busiest route. However, container freight rates have fallen in 13 weeks of the year so far.
Year-on-year the average rate per TEU has risen by around $230 as the industry has been struggling with overcapacity and too few goods to transport as a result of uncertainty in the global economy.
Germany's Hapag Lloyd, the world's sixth largest carrier, said that it intends to raise rates on routes from Asia to northern Europe by $750 per TEU with effect from 9 June, a 53% increase.
“With the expansion of the G6 Alliance to include all east-west trades, which is currently being implemented in our service network, together with the takeover and integration of CSAV’s container segment, which still has to be approved by the competition authorities, Hapag-Lloyd will again significantly improve its ability to compete,” CEO Michael Behrendt said.
© 2014 - European Supermarket Magazine by Enda Dowling
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