Carriers are losing the game
Container carriers are fighting against plummeting Far East-Europe rates. A total of 20 new ships of between 8,500 and 16,000 teu will be introduced into the FE-North Europe trade in Q2/2013, according to analyst Alphaliner. This number adds on the phasing into service of seven new units that were introduced in March. The rapid capacity influx has triggered a renewed rate war on this route that has sent freight rates crashing by USD 600/teu since the start of the year. Spot freight rates from China to Europe are currently offered at USD 700-800 per teu, compared to USD 1,300 to USD1,400/teu at the beginning of the year, said Alphaliner in its weekly report.