Gloomy October for Container Lines as Rates Slip — Panjiva


Gloomy October for Container Lines as Rates Slip

Corp - Shipping 610 Energy - Bunker Fuel 63 Global 723 Mode - Containerized 1006 Mode - Seaborne 1275 Theme - Rates 141

Container shipping rates took a step backwards in October with a 1.1% decline in rates for routes out of China. A 3.6% slump in rates to Europe led the way with a 2.7% slide in South-East Asia rates. That offset improving rates from China to the U.S. which rose 4.8% on west-coast U.S. lanes. The latter suggests inventory build-up into the year-end holiday season, and possibly stockpiling ahead of future U.S.-China tariffs. The decrease in rates is not encouraging for container-lines which already saw a drop in profitability, as shown by COSCO Shipping’s and Ocean Network Express...

PANJIVA RESEARCH is a service provided by Panjiva, Inc. ("Panjiva") to relevant global subscribers, and are deemed to be Panjiva "Services" subject to the Panjiva Terms & Conditions of Use. Information contained within or made available via the Services is for informational purposes only and nothing in the Services shall constitute or be construed as an offering of financial instruments, or as investment advice or recommendations by Panjiva, Inc. or its affiliates of an investment strategy or whether to "buy", "sell" or "hold" an investment. The Services may include views and commentary about customers of Panjiva. No aspect of the Services is based on consideration of your individual circumstances, and you should determine on your own whether you agree with the information contained within or made available via the Services. Employees involved in Panjiva Research may hold positions in securities analyzed or discussed in the Services. Panjiva does not make any express or implied warranties, representations, endorsements or conditions with respect to the Services and the information contained within or made available via the Services, including without limitation, warranties as to the usefulness, completeness, accuracy, currentness, reliability or sufficiency of any information (including, without limitation, conclusions, statements, opinions, estimates, forecasts or projections of any kind) and expressly disclaims any implied warranties. Neither this disclaimer nor any of its contents may be forwarded or redistributed without the prior written consent of Panjiva. © 2019 Panjiva, Inc. All Rights Reserved.