Asia-Europe container spot rates surge
The Journal of Commerce reported that container spot rates from Asia to Europe have spiked due to an earlier Lunar New Year, spurring stronger import volumes before factories in Asia close for nearly two weeks of celebrations as of January 29.
This made interesting reading for Davies Turner, with our comprehensive portfolio of international container shipping services for both LCL and FCL import and export cargoes.
The JoC says that the rate movement comes as carriers try to strengthen their hand in ongoing annual contract talks, adding that average Asia-North Europe rates last week rose to USD4,700 per feu while Asia-Mediterranean rates hit USD4,900 per feu, both routes rising USD620 compared with the previous week, according to Platts data displayed on the publication's Gateway product.
The article added that the industry is split on whether the spot rate increases are sustainable, with some forwarders telling the JoC that bookings for January are stronger than usual while others report nothing of the sort.
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Asia-Europe container spot rates surge
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