Asia-Europe rates slip as capacity tightens but mega-ships to add tonnage

ASIA-EUROPE rates have slipped $3 per TEU in a month accompanied by no change in capacity over what was available two weeks ago, according to London's International Freighting Weekly (IFW) space and rates survey.

CMA CGM and Maersk Line this week announced they were launching a ten 13,000-TEU ships into the Asia-Europe trade, but CMA CGM said the service was being launched to cater for the trade lane's peak season through the summer.

Despite big rate fluctuations over the past year, an average US$1,815 per TEU was being charged on the Asia to Europe route as of May 7, some $3 less than in the last week in April. Rates were at their highest on March 5 - $2,164 per TEU - at a time of vessel space shortage.

"Meanwhile, IFW's space index for the trade for the week ending May 7 reached 1.5 on a scale of 1-4 (with one indicating space easily available and four indicating that it was very short) - the same as in the last week in April and 2.2 the previous week," said the IFW report.

(Source: www.schednet.com)