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Economic crisis blog
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March 8, 2012
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Container rates pick up pace
Spot rates on Asia to Europe and the Middle East trades have jumped by almost 75 per cent over the last week, pushing the Shanghai Containerised Freight Index up 19.1 per cent to 1163.96. The World Container Index, a joint venture between Drewry and Cleartrade Exchange, indicated a surge of 114 per cent for westbound freight rates from Asia. This is a consequence of a general lift in rates announced by many carriers, and some of them are considering further hikes to be implemented in April. However, a deployment of larger tonnage could increase the pressure on cargo rates in the near future.
Source: Lloyd's List; 7 March 2012
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