Alphaliner: No relief in Far East-Europe trade

  The information service Alphaliner says there is “no immediate relief in sight for carriers engaged in the war of attrition on the Far East-North Europe trade” in what it says are “unprecedented” low rates. It says negative base rates have been offered on the Asia-Europe trade since September and only a mild recovery expected in late January when rates are expected to rebound due to higher volumes in the pre-Lunar New Year period.
   The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index shows rates on the Shanghai to North Europe Route dropped another $33 per TEU last week to $540 per TEU. Alphaliner says with with the average BAF at $755/teu, that is “implying a negative base ocean freight rate of $215/TEU (excluding surcharges).”