Asia-Europe Container Freight Rates Fall

Dock workers tie mooring ropes as the world's largest container ship, the MV Maersk Mc-Kinney Moller. REUTERS/Edgar Su
Dock workers tie mooring ropes as the world’s largest container ship, the MV Maersk Mc-Kinney Moller. REUTERS/Edgar Su

reuters logoCOPENHAGEN, July 18 (Reuters) – Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 5.5 percent to $1,230 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.

It was the second consecutive week of falling freight rates on the world’s busiest route. Container freight rates have so far increased in nine weeks this year but fallen in 20 weeks.

Average rates for 2014 are $1,275 per TEU compared with $1,090 last year. The comprehensive index fell 1.8 percent to $1,080 per TEU.

Maersk Line, the global market leader with nearly 600 container vessels and part of Danish oil and shipping group A.P. Moller-Maersk, was one of the few container shipping companies to make a profit last year.

The Danish shipping company controls around one fifth of all transported containers from Asia to Europe. (Reporting by Ole Mikkelsen; editing by Sabina Zawadzki)

(c) 2014 Thomson Reuters, All Rights Reserved