Freight rates continue to rise
January 10, 2012
Containership operators are upbeat on freight rate prospects out of Asia, according to the latest Containerised Freight Index from the Shanghai Shipping Exchange.
The average all-in spot rate quoted to the US west coast rose Friday, a 7.2% increase on the previous week. To the US east coast, rates were up 1.7%.
The average all-in rate quoted for spot cargo from Shanghai to Northern Europe also rose again compared with 30 December, while to the Mediterranean ratesd were up 5.6%.
The increases were said to be down to shippers trying to beat the Chinese New Year holiday, which begins on 23 January, and carriers taking advantage of improved vessel utilisation created by tonnage being taken out of service for the winter.
Courtesy of IFW
