Europe-Asia eastbound ocean prices continue to rise

4/24/2017

Shippers hoped that capacity issues on the backhaul Europe-Asia trade would quickly subside once the new alliances were launched, but nearly a month on the spot market tells a very different story.

Having risen to unprecedented levels in recent weeks amid a shortage of slot space on vessels for European exporters to the Asian market, freight rates climbed to new highs this week, rising above headhaul spot prices.

The latest World Container Index shows that rates on the Europe-Asia trade from Rotterdam to Shanghai moved up $153 this week to a whopping $1,723 feu, representing a new high for the index, while rates in the opposite direction held firm this week with the WCI price for cargo moved from Shanghai to Rotterdam recorded at $1,546 per feu.