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Asia-Northern Europe freight rates at lowest since 2009  

MAY 29, 20158:06 PM

[COPENHAGEN] Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 per cent to US$342 per 20-foot container (TEU) in the week ended on Friday, a source with access to Shanghai Containerized Freight Index data told Reuters.

Freight rates on the world's busiest trade route are now at the lowest level since the index began in 2009 and have more than Asia-Northern Europe freight rates at lowest since 2009halved this month. Overcapacity of vessels and sluggish trade are behind the fall.

REUTERS