The average Asia-Europe all-in freight declined 10% in April, according to Container Trades Statistics (CTS), which also revealed that rates on routes to the western Mediterranean, North Africa fell 7.4% and 9% on eastern Med and Black Sea trade lanes, a report by the Shipping Gazette said.
The declines explain why most ocean carriers are now losing money in the tradelane, the report said.
Maersk bunker formula levied US$135 per TEU on shippers in April to keep up with mounting fuel costs has since soared to US$205 per TEU in May and US$250 per TEU in June.
The westbound freight rate has been declining since August and coincides with the arrival of a wave of postponed super postpanamax ships from Asian yards, said the report. – Source: Shipping Gazette