Container exports at major Chinese ports remained stable in the first four months of 2015, but the freight rate index kept falling, according to a report released by Shanghai Shipping Exchange.
The economic fluctuations in Europe has dragged the stable growth demand for shipping, and the average space utilisation rate of most ships was at around 80%, with some even lower at 70%. As a result, carriers had to postpone the rate increase plans.
As of the end of April, the freight index for services from China to Europe and Mediterranean stood at 1,100.5 points and 1,176.6 points, down by 14.4% and 19.4%, respectively, from last month.