Container shipping spot rates have fallen and are predicted to remain challenging for major carriers in the coming weeks, following a fall in demand after the lunar New Year. The Shanghai Containerised Freight Index recorded a drop of 9.6% for the week ending 2 March, whilst rates for both Asia-Europe and Asia-US carriers fell by more than 10%. The decreases have affected companies including Maersk, Cosco, Hapag-Lloyd, Evergreen, Orient Overseas, NYK, Mitsui and K-Line. Demand is expected to pick up again in the summer, until when carriers are hoping that a cut in capacity may halt the decline. up to five. Capacity Glut Will Put Container Spot Rates to TestReturn to Top Contributing Analysts Rahul Kapoor (Transportation) Shanghai, China Containerized Freight Indexes DataChart Container-shipping spot rates are likely to come under more pressure in the weeks ahead on muted demand following the Lunar New Year. The Shanghai Containerized Freight Index dropped 9.6% for the week ended March 2, and is unchanged from a year ago. A general rate increase announced March 1 by Asia-Europe and Asia-U.S. shippers likely failed, as rates for both trade lanes fell more than 10%. Carriers are counting on capacity cuts to arrest the decline in spot rates until demand picks up again this summer. Companies Impacted: Maersk, Cosco, Hapag-Lloyd, Evergreen, Orient Overseas, NYK, Mitsui and K-Line are among operators affected by rate volatility. The Shanghai Containerized Freight Index measures spot rates for Shanghai exports. Trade lanes to Europe, the Mediterranean and the U.S. account for 58% of the index. (0up to five/04/18) Capacity Glut Will Put Container Spot Rates to Test 2018-0up to five-05 02:07:17.786 GMT BI SHIP GLOB NOTEIN Container-shipping spot rates are likely to come under more pressure in the weeks ahead on muted demand following the Lunar New Year. The Shanghai Containerized Freight Index dropped 9.6% for the week ended March 2, and is unchanged from a year ago. A general rate increase announced March 1 by Asia-Europe and Asia-U.S. shippers likely failed, as rates for both trade lanes fell more than 10%. Carriers are counting on capacity cuts to arrest the decline in spot rates until demand picks up again this summer.
Container shipping spot rates have fallen and are predicted to remain challenging for major carriers in the coming weeks, following a fall in demand after the lunar New Year. The Shanghai Containerised Freight Index recorded a drop of 9.6% for the week ending 2 March, whilst rates for both Asia-Europe and Asia-US carriers fell by more than 10%. The decreases have affected companies including Maersk, Cosco, Hapag-Lloyd, Evergreen, Orient Overseas, NYK, Mitsui and K-Line. Demand is expected to pick up again in the summer, until when carriers are hoping that a cut in capacity may halt the decline. 3. Capacity Glut Will Put Container Spot Rates to TestReturn to Top Contributing Analysts Rahul Kapoor (Transportation) Shanghai, China Containerized Freight Indexes DataChart Container-shipping spot rates are likely to come under more pressure in the weeks ahead on muted demand following the Lunar New Year. The Shanghai Containerized Freight Index dropped 9.6% for the week ended March 2, and is unchanged from a year ago. A general rate increase announced March 1 by Asia-Europe and Asia-U.S. shippers likely failed, as rates for both trade lanes fell more than 10%. Carriers are counting on capacity cuts to arrest the decline in spot rates until demand picks up again this summer. Companies Impacted: Maersk, Cosco, Hapag-Lloyd, Evergreen, Orient Overseas, NYK, Mitsui and K-Line are among operators affected by rate volatility. The Shanghai Containerized Freight Index measures spot rates for Shanghai exports. Trade lanes to Europe, the Mediterranean and the U.S. account for 58% of the index. (03/04/18) Capacity Glut Will Put Container Spot Rates to Test 2018-03-05 02:07:17.786 GMT BI SHIP GLOB NOTEIN Container-shipping spot rates are likely to come under more pressure in the weeks ahead on muted demand following the Lunar New Year. The Shanghai Containerized Freight Index dropped 9.6% for the week ended March 2, and is unchanged from a year ago. A general rate increase announced March 1 by Asia-Europe and Asia-U.S. shippers likely failed, as rates for both trade lanes fell more than 10%. Carriers are counting on capacity cuts to arrest the decline in spot rates until demand picks up again this summer.