Container shippers push increases to freight rates Written by SCA Editorial Team
Leading container shippers are pushing freight-rate increases in the benchmark Asia-to-Europe route, as consumer confidence strengthens in the US and Europe.
But the industry, which moves 95 per cent of the world's manufactured goods, is still haunted by excess capacity, or the amount of containers that can be carried with ships in service. That will take years to be absorbed, likely limiting the ability of shippers to dramatically increase rates.
A.P. Moeller Maersk's Maersk Line of Denmark and France's CMA-CMG, the world's two biggest shipping companies by capacity, said they are increasing their official prices by an average $500 a container over the next eight days. The move came after rising demand pushed up the Shanghai Containerisation Freight Index by $221 a container, to $1,305. The index is a benchmark for prices for a typical Shanghai-Rotterdam sailing.
But the industry, which moves 95 per cent of the world's manufactured goods, is still haunted by excess capacity, or the amount of containers that can be carried with ships in service. That will take years to be absorbed, likely limiting the ability of shippers to dramatically increase rates.
A.P. Moeller Maersk's Maersk Line of Denmark and France's CMA-CMG, the world's two biggest shipping companies by capacity, said they are increasing their official prices by an average $500 a container over the next eight days. The move came after rising demand pushed up the Shanghai Containerisation Freight Index by $221 a container, to $1,305. The index is a benchmark for prices for a typical Shanghai-Rotterdam sailing.
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