News / Rates hit rock bottom: 'shippers will have to pay more or boxlines will go broke'

Contracted container shipping rates on the Asia-North Europe trade have probably reached rock bottom, according to forwarders operating on the trade and freight rate analyst Xeneta.

Xeneta managing director Patrick Berglund yesterday gave a freight rate analysis of the first three months on the westbound Asia-North Europe and eastbound transpacific trades.

Xeneta data shows a 78% decline in freight rates from Asia to North Europe in the average market spot rate from the beginning of January this year to the end of March. The ...