News / Weak contract rates add to pressure on operators on Asia-Europe container trade

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Ocean freight rates for containers carried under long-term contracts on the two largest east-west tradelanes have declined sharply since the beginning of the year, according to Drewry Supply Chain Advisors.

Drewry’s Benchmarking Club (DBC) index, based on freight rate data confidentially provided by shippers, recorded a significant 7% fall between May and August on the transpacific and Asia-Europe routes – the steepest fall since it was established in March 2014.

And the index shows a year-on-year decline of 5% in the year ...