COVID-19 pressure eases, competitive pricing rises – S&P Global Platts Container Update, May 2020

Corp - Shipping 753 Global 1074 Mode - Containerized 1193 Mode - Seaborne 1518 Theme - Rates 166

The easing of COVID-19 linked lockdown measures has helped improve demand for container shipping services, though void / cancelled sailings are still vital for protecting the level of freight rates. Global average shipping rates increased by 8.3% at the end of May versus the end of April. Rates for shipping on Asia-Europe lanes are diverging between liners as firms seek to boost their market share. Rates for North Asia to U.K. increased by 8.2% sequentially but there’s a 37.5% gap between the highest and lowest quoted rates for the routes. That’s led to increased vessel utilization but a...

Copyright © 2020 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.