Global shipping rates ease as new vessels join major routes
Container freight costs on Asia-Europe lanes fell for a fourth week as fresh capacity arrived.
Quick read
- Freight rates fell for the fourth week in a row
- Dozens of new container ships entered service this year
- Exporters may see lower costs ahead of the holiday season
Singapore: Container shipping rates on the main Asia-Europe routes fell for a fourth straight week, as newly built vessels joined fleets and added capacity.
Analysts said the decline could lower costs for exporters shipping goods ahead of the year-end holiday season in Europe and North America.
Port congestion has also eased at several hubs, cutting average waiting times for berths.