ASIA-Europe rates again made a downhill charge last week, falling 5.4 per cent week to week to US$511 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
UK-based shipbroker GFI Group commented that if rates on the trade continue at the current average of $30 per week, then it will only take 17 more weeks before rates reach zero dollars.
Asia-Mediterranean rates were not much better, falling 4.95 per cent to $730 per TEU, while transpacific rates also fell last week.
Rates from Asia to the US west coast were down 1.7 per cent to $1,435 per FEU, while US east coast rates slipped a further 2.7 per cent to $2,555 per FEU.
Across all trades covered by the SCFI the index dipped 0.7 per cent to reach a new low of 879.05 points.
