Now transporting containers from ports in Asia to Northern Europe will be comparatively cheaper as shipping freight rates drop 2.7% to USD 719 per TEU.
Freight rates were constantly falling for Asia Europe containers and this was the 5th week of falling rates. As far as this year is concerned, freight rates have fallen in thirty-six weeks & increased in 12 weeks.
If freight rates level goes below USD 1,000, then this situation will be a loss making situation for shipping companies.
Last week, freight rates for transporting containers from Asia to Mediterranean ports dropped 3.9% while freight rates for transporting containers from Asia to U.S. ports dropped 4.2% and fell 1.4% for transporting containers from Asia to ports on U.S. East Coast.
This can be a loss making situation for Maersk Line which handles around 1/5th of all containers from Asia to Europe.
