News / 'A hard landing' as Asia-North Europe freight rates collapse to $1,000 a box

© Chuyu

There seems to be nothing ocean carriers can do – or are prepared to do – to stop the rapid slide of container spot rates this side of the Chinese New Year.

Drewry’s WCI Asia-North Europe component lost another 10% this week, dragging the reading down to $1,965 per 40ft, having lost half its value in the past four weeks.

If the rate erosion on the tradelane continues at this pace, spot rates recorded by the WCI will be below $750 a ...