A sharp fall in container spot freight rates and the high cost of bunkers mean that container shipping lines are making losses on key Shanghai-Europe spot trade and the situation may not improve markedly until 3Q11, a shipping analyst says. "Container freight rates have been on a steep decline throughout February, sliding 13%, impacted to a large extend by the Chinese New Year and the lower volumes leaving the Chinese factories," said Peter Sand, shipping analyst at BIMCO in Denmark.
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