News Before It's News
About us | Ocnus? |

Front Page 
 Dark Side
 Defence & Arms
 Light Side

Business Last Updated: Jun 1, 2021 - 10:21:26 AM

Asia-Europe rates pass the $10,000 mark
By Sam Chambers, Splash, May 28, 2021
May 30, 2021 - 11:52:22 AM

Email this article
 Printer friendly page

Box freight rates from Shanghai to Rotterdam have crossed the $10,000 per feu mark for the first time in history.

The Drewry World Container Index released Thursday showed the rate for a 40-foot container from Shanghai to Rotterdam rose to $10,174, up 3.1% from a week ago and a 485% jump from a year ago.

The extraordinarily high freight rates have allowed new entrant CULines from China to now start marketing regular services using 4,200 teu class ships on a tradelane that is accustomed to 18,000+ teu tonnage.

Drewry’s composite index of eight major routes around the world rose 2% to $6,257 from a week earlier.

Cash-rich liners have been spending big on new tonnage so far this year. It has been a truly record-breaking start to the year for containership contracting, with 2.2m teu being ordered. This is more than 12 times higher than the 184,254 teu ordered in the first five months of 2020 and more than 60% higher than the previous record dating back to the start of 2005, according to data from BIMCO.


Source:Ocnus.net 2021

Top of Page

Latest Headlines
The North Sea Route Revisited
There Is Not One Elected Official at the Federal Reserve, But It Has Been Unilaterally Rewriting the Rules on Wall Street Since 2007
Container shortage worsens as box ships avoid Chinese ports that need empties
Chinese Leaders Project Confidence in Self-Sufficiency Amid Post-Pandemic Food Security Concerns
An Economic Blueprint for North Korea
Container line schedules take another hit as port congestion in China spreads
Lithium, Cobalt, and Rare Earths
Asia-Europe rates pass the $10,000 mark
Logjams at Malaysian warehouses exacerbate aluminium shortages
Attrition: Revising Chinese History As It Happens