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Indiaexportnews.com

Shipping rates started to fall

  23.09.2010    

Containerised shipping rates have started to fall, according to the Shanghai Containerised Freight Index and other monitoring agencies, since new capacity makes vessel space easier to find.
After rising to a five-year high of $ 2,980 in July, spot rates from Shanghai to the US west Coast were down by $ 68 to $ 2,567 per TEU for the week ended September 10, compared to the previous week.
Rates were $36 lower per TEU, or $4,027, to the US east Coast.
The Shanghai index showed that rates to Europe, the Mediterranean, Dubai, West Africa and South America were also down, though rates to Australia had improved after falling by 50 per cent or more since January.



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