News / Container lines offering more concessions adds to rates misery on intra-Asia trades

Hutchison's Myanmar International Terminal Thilawa on the outskirts of Yangon

Intra-Asia freight rates have hit rock bottom, with overcapacity and carrier concessions forcing prices to under US$10 on some lanes.

“Rates in many corridors have been falling quite dramatically, sometimes plunging as much as 30% on some of the head-haul corridors from North Asia to South-east Asia,” said Naresh Potty, MCC Transport’s chief commercial officer.

He added: “The rates from South-east Asia to North Asia are not faring any better, with some of the main corridors now selling for single-digit freight rates. This ...