Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October, the Telegraph reported. Shipping journal Lloyd’s List said brokers in Singapore are now waiving fees for containers travelling from South China, charging only for the minimal “bunker” costs. Container fees from North Asia have dropped $200, taking them below operating cost. The Telegraph likened “offering slots for free” to “an airline giving away spare seats for nothing in the hope of making something from meals and fees.”
