shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Freight Rates Cruising For A Bruising

Freight Rates Cruising For A Bruising

by Joshua
May 25, 2012
in Uncategorized

The latest information from the Shanghai Shipping Exchange (SSE), supported to some extent by the World Container Index, shows that the comparatively high all-in freight rates quoted to forwarders for spot cargo out of Shanghai are still reducing.
 The SSE’s average spot rate to Northern Europe base ports fell to US$1,742/teu on Friday, a 10% reduction compared with two weeks earlier, while the corresponding fall to Western Mediterranean base ports was 8%, to $1,872/teu.

The latest information from the Shanghai Shipping Exchange (SSE), supported to some extent by the World Container Index, shows that the comparatively high all-in freight rates quoted to forwarders for spot cargo out of Shanghai are still reducing.
 The SSE’s average spot rate to Northern Europe base ports fell to US$1,742/teu on Friday, a 10% reduction compared with two weeks earlier, while the corresponding fall to Western Mediterranean base ports was 8%, to $1,872/teu.
 In the eastbound transpacific trade lane to the US west coast, the fall was 3.4% to $2,330/feu, and the corresponding fall to the US east coast was 2.5%, down to $3,490/feu.
 The information is the basis of why some brokers in the freight rate derivative market believe that all freight rates out of Asia to Europe and the US are set to decline over the remainder of the year.
 This is predicated on the past correlation between spot rates and contract rates, although the delay of the impact of spot rates on contract rates is the subject of much debate.
It used to be around a month one year ago, but in the Asia-Europe tradelane the dramatic westbound increases that started to appear in the middle of December 2011 only began to have an impact on the average of all cargo shipped out of China in the middle of March, three months later.
 The delay may explain why the average freight rates recorded on all cargo (spot and contract) shipped out of China to Europe and the US are still increasing according to the SSE’s China Containerised Freight Index.
Its average rate to Northern Europe last Friday ($1,901/teu) was 8% higher than two weeks earlier, while that to the Mediterranean ($2,045/teu) was 12% higher. The average to the US west coast ($1,063/teu) was 2.9% higher, and that to the US east coast ($1,302/teu) was 3% greater.
 Needless to say, ocean carriers maintain that the rates they quote for spot cargo at any one time depend only on local circumstances, so should have little impact on contract rates, many of which are agreed for 12 months.
 Time will tell if this is just a case of preferring seeing the glass as half full instead of half empty.


Related Posts

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024
NEPC Frowns at $480m Expenditure on Importation of 3m Tonnes of Rice Importation

Eastern Ports Set for Boost in Investments as Dantsoho Tours Onne and Rivers Port Complexes

December 6, 2024

Discussion about this post

Latest News

NARTO, Maritime Workers Oppose e-Call Up levy

NARTO, Maritime Workers Oppose e-Call Up levy

June 17, 2025

Customs Refutes Extortion Allegation At Lagos Airport

Oyetola Seeks Island Nations’ Backing for Nigeria’s IMO Council Bid

Centre for Marine Surveyors Leads Initiative to Enhance Industry Standards, Regulations

Experts Advocate Stronger Marine Space Governance as Key to Nigeria’s Blue Economy Success

Dantsoho’s Giant Strides at NPA: Port Reforms, Trade Growth, Maritime Diplomacy Define New Era

Vessels Expected At Lagos Ports As At 16th June, 2025

Anxiety Mounts As Delay Stalls Nigeria’s National Single Window Project    

Stakeholders Clamour For Insurance-Based New Container Deposit Refund System, Says Old System Fraudulent

Lagos Govt Dares Tanker Owners As E-Call Up Starts On Lekki-Epe Corridor Today

Rail Cargo Movement Hits 133,116 Tonnes in Q1 2025 Amid Renewed Push for Multimodal Transport   

Why Commercial Motorcycles Still Ply Apapa, TinCan Port Access Roads Despite Government Clampdown 

kindly like our Facebook page

Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts
Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025

Association of Medical Laboratory Scientists of Nigeria, Lagos State chapter, has raised the alarm over the increasing number of men...

20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025
Some Truths and Myths About Agbo Herbal Concoction

Some Truths and Myths About Agbo Herbal Concoction

April 21, 2025
The Malaise Of Misuse of Antibiotics

The Malaise Of Misuse of Antibiotics

April 14, 2025
Urologist Debunks Breast-Cancer Prevention Myth

Urologist Debunks Breast-Cancer Prevention Myth

April 14, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition