An in-depth analysis of Q3 container shipping costs revealed positive trends for the container carrier segment, according to Xeneta, a market intelligence company for containerized ocean freight. However, the market remains unpredictable, with the 'Hanjin Effect' ebbing away, Xeneta says.
The market index for Asia to North Europe is still on the decline, with the average for a 20-foot seeing a 19-percent drop since the 26th of May compared to the 26th of June, according to Xeneta, the price comparison service for sea freight. The market average for a 40-foot in Asia to North Europe performed similarly with a 20-percent decline in container shipping rates in the same period.
The average container freight rates from Asia to North Europe continues to drop, to $2,352 per 40-foot container and to $1,359 per 20-foot, as of tracking on May 24, according to Xeneta, a sea freight price comparison service. Due to overcapacity and various types of economic turmoil in the market, the market index for 40-foot containers has taken a massive dip with it being down 52 percent from May 2012.