News / Asia to Europe spot rate plunge pushes carriers to cancel loops last-minute

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Container spot rates ex-Asia to both North Europe and the Mediterranean have fallen sharply again this week, prompting carriers into last-minute cancelled sailings – over and above their already aggressive blanking programmes.

Moreover, there are reports of newbuild ultra-large 24,000 teu vessels going straight from shipyard to anchor, as European consumer demand dries up ahead of China’s Golden Week holiday, in the first week of October.

Drewry’s WCI Asia-North Europe component fell 10% this week, to an average of $1,449 per 40ft, ...