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CONTAINER RATE RECOVERY

Jan 26 2017

Freight rate gains in the second half of 2016 meant two thirds of container trade lanes finished the year higher than in 2015, but container lines still earned on average $42 per TEU less in 2016 taken as a whole.This has primarily been due to the devastating low rates in the first half of 2016. Based on analysis of Shanghai Containerized Freight Index (SCFI) spot market trade routes, it was found that the majority of trades finishing the year at higher rates than a year earlier. Freight rates managed to gain momentum through the second half of 2016, due to measures taken from the shipping lines in terms of network optimisation, scrapping and more careful deployment around the peak season. European trade was a standout performer in 2016, but intra-Asia and some Transpacific trades fared less well. Container shipping lines operating from Shanghai to Europe earned US$66 more per TEU transported in 2016 compared to 2015. By contrast, lines operating US East Coast-bound services from Shanghai earned an average of US$1,051 less per transported FEU in 2016 compared to 2015.

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