Asia-Europe prices hold firm after 1 May rises


The Asia-Europe ocean freight spot market is expected to hold firm in the wake of a relatively successful 1 May price push by container lines in the lead up to the crucial peak season in what could be viewed as a further sign of newfound stability on the premier east-west trade.

The Shanghai Containerised Freight Index (SCFI) forecasts only minimal rate erosion this week, with spot rates on the Asia-northern Europe and Asia-Mediterranean trades expected to fall just 2.4% to $996 per teu and 2.3% to $988 per teu, respectively.

The SCFI average for rates on the Asia-Northern Europe trade through to the first week of May stands at $934 per teu, while for the same period last year this was 55% lower at $420, and spot rates have deviated by just $353 per teu this year on the Asia-northern Europe trade compared with around $1,000 per teu during the first four months of 2016.