The Shanghai to Rotterdam element of Drewry’s World Container Index jumped 13.8% last week, to US$2,727 per feu, after falling back by a similar number around the Christmas period.
The rise is evidence that the lines’ strategy of stalling ships in Asia to squeeze out supply has worked.
Elsewhere, the troubled Asia-Mediterranean trade lane also saw significant gains with Drewry’s index for Shanghai to Genoa recording a $342 per feu gain on the week to $2,523.
The blanking or voiding of voyages seems to have had the desired effect. Reports are coming in that ships are leaving Asia for Europe around 95% full in the cargo rush ahead of Chinese new year commencing February 10.
Maersk Line’s north Asia chief executive Tim Smith has gone on record to say that balancing supply and demand “is the game we need to play again in 2013”.
“We had too much cargo in the last few weeks [of 2012] that we had to roll containers back to sailings,” Smith said.
“We’ve been on a real rollercoaster,” he said no doubt referring to the $600 million net loss his company made in the first quarter of 2012 only to be turned around in the third quarter by the posting of a $500 million profit.
“We should never be too confident in these challenging times, but it’s certainly looking more optimistic than it has been for a while,” said Smith.
The rise is evidence that the lines’ strategy of stalling ships in Asia to squeeze out supply has worked.
Elsewhere, the troubled Asia-Mediterranean trade lane also saw significant gains with Drewry’s index for Shanghai to Genoa recording a $342 per feu gain on the week to $2,523.
The blanking or voiding of voyages seems to have had the desired effect. Reports are coming in that ships are leaving Asia for Europe around 95% full in the cargo rush ahead of Chinese new year commencing February 10.
Maersk Line’s north Asia chief executive Tim Smith has gone on record to say that balancing supply and demand “is the game we need to play again in 2013”.
“We had too much cargo in the last few weeks [of 2012] that we had to roll containers back to sailings,” Smith said.
“We’ve been on a real rollercoaster,” he said no doubt referring to the $600 million net loss his company made in the first quarter of 2012 only to be turned around in the third quarter by the posting of a $500 million profit.
“We should never be too confident in these challenging times, but it’s certainly looking more optimistic than it has been for a while,” said Smith.
IT was a good start to the New Year for shipping lines on the Asia-Europe and Asia-Mediterranean trades with rates increasing for a second straight week
IT was a good start to the New Year for shipping lines on the Asia-Europe and Asia-Mediterranean trades with rates increasing for a second straight week, according to the latest Shanghai Containerised Freight Index (SCFI).
Asia-Mediterranean rates saw the strongest surge, rising 17.1 per cent to US$1,356 per TEU, while Asia-Europe rates also posted a strong increase of 11.7 per cent to $1,418 per TEU.
Since the final week of 2012 rates to the Mediterranean have increased $252 per TEU and by $200 per TEU to Europe.
Rates were also up on the US-bound trades with Asia-US west coast rates up 5.4 per cent to $2,341 per FEU and east coast rates up five per cent to $3,525 per FEU.
Across all trades covered by the index the SCFI gained 7.3 per cent week to week to reach 1,232.35 points.
Asia-Mediterranean rates saw the strongest surge, rising 17.1 per cent to US$1,356 per TEU, while Asia-Europe rates also posted a strong increase of 11.7 per cent to $1,418 per TEU.
Since the final week of 2012 rates to the Mediterranean have increased $252 per TEU and by $200 per TEU to Europe.
Rates were also up on the US-bound trades with Asia-US west coast rates up 5.4 per cent to $2,341 per FEU and east coast rates up five per cent to $3,525 per FEU.
Across all trades covered by the index the SCFI gained 7.3 per cent week to week to reach 1,232.35 points.
Comments
Post a Comment