Lower volume, partially explained by factories shutdowns in China and other parts of Asia but also indicative of a longer-term trend, brought down ocean carrier freight rates in the last week. The World Container Index assessed by Drewry, a composite of container freight rates on eight major routes to and from the U.S, Europe and… This content is for Annual and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or subscribe. Log In Subscribe
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 trade 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 - branded 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 visa & Kapoor ( Transportation ) Shanghai , China Containerized Freight Indexes DataChart Container - branded 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 2017 , and is unchanged from a year ago . A general rate increase from 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 .