China Shipping raises Europe/Med to Asia rates
China Shipping Container Lines raised its rates April 1 on services covering the China/Europe and Mediterranean trade by $150 to $200 per TEU.
At the same time, the Far Eastern Freight Conference, which includes most of the Asia/Europe container shipping lines but not China Shipping, also raised its rates.
“The price rise is the first bounce since Europe/Mediterranean lines price slide in the rear half of last year. The price rise itself fully amplifies the leading image of China Shipping Container Lines in China market, and further fosters an active effect in market development and freight stability,” the Chinese carrier said.
According to Philip Damas, researcher director at London-based Drewry Shipping Consultants, the carriers face a struggle to achieve the increases.
“The fall in freight rates have been an overreaction considering that the load factors of vessels in the trade have been relatively high by historical standards,” Damas said.