Container spot rates fall below the $1,000 per TEU-mark on fierce competition

In a new report, BIMCO reiterated that spot rates for shipping of shipping of containers out of Shanghai bound for Europe has now slipped below the USD 1,000 per TEU–mark for the first time since March 2009. Following yet another weekly drop in freight rates on this main trading lane, boxes are now being shipped off at USD 992 per TEU, USD 27 per TEU lower than last week. 

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Source: Hellenic Shipping News