Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week

Sunday, August 2, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
08/02/2015

It appears that the recent spike in shipping rates was analogous to the dead cat bounce in crude oil prices: a speculator-driven anticipation for a sustainable rebound that never took place. And now, just like with crude prices, it is all crashing down…. again. According to Reuters, shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 22.8 per cent to $400 per 20-foot container (TEU) in the week ended last Friday, data from the Shanghai Containerized Freight Index showed.

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