Container shipping freight rates on the world’s busiest routes between Asia and Europe rose 7.4 per cent to $1,401 per 20ft container (TEU) in the week ending last Friday, according to the Shanghai Containerised Freight Index.
The increase marked the third consecutive week of rate rises, with rates now averaging $1,305 per TEU compared to $1,090 last year.
The container shipping industry has been hit by overcapacity issues and the weakening global economy, which has reduced the amount of goods being transported, according to industry sources.
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