Further evidence that the container trades are under severe pressure on key routes came with publication of the latest World Container Index, which has lost further ground over the past week as rates from Asia to both Europe and the US declined.
Rates from Shanghai to Rotterdam have fallen by $74 per feu in the last seven days to $1,631, having been at more than $2,100 a month earlier.
They are now at the lowest level for a year, with rates rallying sharply in April 2012 as all lines took concerted action to halt a decline that had seen spot prices dip below $1,000 per feu.
The latest WCI, produced by Drewry in partnership with Cleartrade, also shows that rates from China to the Mediterranean continue to weaken, with the Shanghai-Genoa route losing $49 per feu to $1,585. These, too, had been above $2,000 at the beginning of April.
On the Pacific, the spot rate for cargo moving from Shanghai to Los Angeles has lost $32 per feu in a week to stand at $919, down from $1,004 a month earlier.
To the US east coast, rates are down by $22 to $3,307 per feu.
The New York-Rotterdam route is another to show a negative trend, with rates losing $102 per feu in a week and some $400 over the month.
Source: Lloyd's List
