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