{"id":9339,"date":"2015-06-23T05:40:33","date_gmt":"2015-06-23T10:40:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9339"},"modified":"2015-06-23T05:48:18","modified_gmt":"2015-06-23T10:48:18","slug":"container-shipping-rates-from-china-to-us-europe-collapse","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9339","title":{"rendered":"Container Shipping Rates from China to US, Europe Collapse"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2015\/06\/22\/container-shipping-rates-from-china-to-the-us-europe-totally-collapse-ccfi-scfi\/\" target=\"_blank\">Container Shipping Rates from China to US, Europe Collapse<\/a><\/h3>\n<p class=\"entry-meta\">\u201cSluggish westbound volumes have brought about the worst spot market rate collapse that this trade has experienced.\u201d That\u2019s how\u00a0<a href=\"http:\/\/ciw.drewry.co.uk\/trade_route_analysis\/eastwest-asia-north-europe-5-2\/\"><u>Drewry Maritime Research<\/u><\/a>summarized it in a report a couple of weeks ago. Since then, the collapse of the rates for shipping containers from China to the West has gotten worse with clockwork relentlessness.<\/p>\n<\/header>\n<div class=\"entry-content\">\n<p>In mid-April, there had already been a lot of handwringing. The Shanghai Containerized Freight Index (SCFI) tracks spot rates of shipping containers from Shanghai to 15 major destinations around the world. At the time, rates from Shanghai to Rotterdam had plunged to $399 per twenty-foot container equivalent unit (TEU), down 67% from a year earlier, the lowest rate ever, and\u00a0<em>half<\/em>\u00a0of what was considered the\u00a0<a href=\"http:\/\/wolfstreet.com\/2015\/04\/20\/shanghai-containerized-freight-index-collapses-china-us-rates-hit-hard-china-europe-rates-at-all-time-low\/\"><u>break-even rate<\/u><\/a>\u00a0for these routes.<\/p>\n<p>It seemed that there would have to be some kind of uptick \u2013 that efforts by carriers to impose higher rates would stick. But nothing worked. So a week ago, there was a lot of handwringing because rates to Rotterdam had dropped to $243 per TEU, which wouldn\u2019t even cover the cost of fuel of about $300 per TEU.<\/p>\n<p>But now, in the week ended June 19, the spot rates from Shanghai to Rotterdam plunged another 15.6% to $205, a previously unimaginable low.<\/p>\n<p>And it\u2019s not just to Northern Europe.<\/p>\n<p>On the routes from Shanghai to the US West Coast, carriers also tried to implement rate increases effective April 1. But after an ephemeral uptick of $300 to $1,932 per forty-foot container equivalent unit (FEU), spot rates re-swooned. By the beginning of May, the index had dropped to $1,783, about back where they had been a year earlier.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Container Shipping Rates from China to US, Europe Collapse \u201cSluggish westbound volumes have brought about the worst spot market rate collapse that this trade has experienced.\u201d That\u2019s how\u00a0Drewry Maritime Researchsummarized it in a report a couple of weeks ago. Since then, the collapse of the rates for shipping containers from China to the West has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,6624,4855,6439,4856,805,827,834,4254,4255],"class_list":["post-9339","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-container-shipping-rates","tag-scfi","tag-shanghai-containerized-freight-index","tag-shipping","tag-trade","tag-united-states","tag-us","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9339"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9339\/revisions"}],"predecessor-version":[{"id":9341,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9339\/revisions\/9341"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}