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Shanghai-Rotterdam rate falls 18pc as A-E spot market plunges

Author:   Posttime:2022-11-30

CONTAINER spot freight rates on the Asia-Europe trade have continued to drop as the Shanghai-Rotterdam rate fell US$495 down 18 per cent last week to US$2,192 per FEU.

The rate between Shanghai and Rotterdam is now 84 per cent lower than it was a year ago as the boom of 2020 and 2021 is almost completely wiped out, reported the UK's Seatrade Maritime News.
Drewry's composite World Container Index (WCI) was down seven per cent last week at $2,404.46 per FEU its 39th consecutive weekly drop and 74 per cent lower than the same time a year earlier, and 77 per cent below the peak of $10,377 per FEU in September last year.
The Shanghai Containerised Freight Index (SCFI) was down 5.9 per cent on the previous week at 1,229.9 points.
According to Drewry, rates fell three per cent on Shanghai-Los Angeles run to $2,069 per FEU, while rates from Shanghai-New York slipped four per cent to $4,846 per FEU.

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