Asia-North Europe rates sinking again as GRIs 'run out of steam'

© Mariusz Bugno Dreamstime.com

Ocean carriers are giving back their recent Asia-North Europe FAK rate increases via heavy discounts for October shipments from China.

Indeed, shippers are receiving rate offers from major carriers, valid until 15 October, from China to Antwerp, Rotterdam and Hamburg at less than $1,000 per 40ft – with rates for UK ports further discounted.

The container spot rate indices appear to be behind the curve on the rate erosion, albeit Xeneta’s XSI Asia-North Europe component slipped 7% this week, to an average ...