News / Ocean carriers fight seasonal downturn by blanking more voyages

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Spot container freight rates on the transpacific and Asia-Europe are coming under intense pressure ahead of a weak outlook for the markets following China’s Golden Week holiday factory shutdown the first week of October. 

Today’s readings of the Shanghai Containerized Freight Index (SCFI) show further declines, the North Europe component falling 6.2%, to $710 per teu, while rates to west Mediterranean ports were down 2%, to $877 per teu. 

Spot rates for North Europe are about a third lower than at the start of the year and continued to ...