Freight Rates rise

Freight rates on shipping lines operating services from Asia to Europe seem to be on the rise, in spite of the fact that ships have been operating below full capacity.  Spot market prices from Shanghai increased by $17 per tonne last week compared to the week before.

Cargo volumes have been gradually increasing, with ship utilisation levels attaining about 90 % on the Asia to Europe route, according to the Shanghai Shipping Exchange.

Some shipping lines have recently published poor results, so they need to try and push through increased freight rates. The Shanghai Shipping Exchange said that they would have a good opportunity to do this in August and September, providing that fleets were carefully managed.