Samudera Shipping Line has seen a sizeable decline in freight rates for the first quarter of 2024 compared with a year ago.
The Singapore-listed Asian feeder operator said average revenue per teu fell to $244 against the $371 per teu seen 12 months earlier, in a market update released Tuesday.
The Indonesian shipowner also reported a sizeable decline in the volume of containers handled in the first quarter versus that of the fourth quarter which was down 23% to 433,000-teu.
