Asia-N. Europe container freight rates down 17.9 pct – source

Delivering freight rates for
transporting containers from ports in Asia to Northern Europe
fell 17.8 percent to $540 per 20-foot container (TEU) in the
week ended on Friday, a source with access to data from the
Shanghai Containerized Freight Index told Reuters. It was the second successive week with falling rates.

Market leader Maersk Line, part of Denmark’s A.P.
Moller-Maersk, stated in May its profit in the first
quarter fell 95 percent from a year earlier to $37 million due
to weak need and record low freight rates.

( Reporting by Teis Jensen, modifying by Terje Solsvik).

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