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Spot freight rates from Asia to West Africa slump by more than 50% since July

Spot freight rates from Asia to West Africa slump by more than 50% since July

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Spot box freight rates from Asia to West Africa have more than halved since July as lines have added enormous new capacity on the tradelane.

Total weekly capacity on the Asia – West Africa route has increased by more than 35% since July, with the launch of three new services – two of which are run fortnightly – and the upgrade of MSC’s Africa Express service putting “significant pressure” on freight rates on this route, according to the latest weekly report from analysts at Alphaliner.

Spot freight rates have slumped by more than 50% since July, with the SCFI rate from Shanghai to Lagos at $1,151 per teu.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Nisha shaikh
    October 4, 2017 at 6:44 pm

    Merging of shipping lines is not a good sign for shipping industry .
    Shipping industry is shrinking day by day.
    Cma is doing good by introducing new services.