Asia/Europe: Container Shipping Rates Collapse

02.10.2008 (17:54)

Container shipping rates on Asia-Europe routes have fallen considerably since summer 2007.

Rates for a 20-foot container on the Hong Kong - Hamburg route has decreased to US$ 350 (EUR 243.01), excluding surcharges, compared to US$ 1,400 a year ago. In addition, shipping companies are expected to quote prices that include all taxes and surcharges. According to Asian shipping companies, prices are expected to fall further. The price war between companies have forced carriers to withdraw vessels smaller than 9,000 TEU from the market, as they are becoming unprofitable, Logistics Finland reports.

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