News / Asia-Europe spot rate decline quickens – 'the market has turned'

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The steady decline of container spot freight rates between Asia and Europe turned decidedly steeper this week, with both the Asia-North Europe and Asia-Mediterranean trades witnessing double-digit declines.

Drewry’s World Container Index (WCI) saw its Shanghai-Rotterdam leg shed nearly $1,000 per 40ft this week, dropping 14% week on week, while Xeneta’s XSI Asia-Europe price fell 10%, to $6,843 per 40ft.

Meanwhile, the WCI Shanghai-Genoa leg saw spot rates decline 12%, to $5,842 per 40ft, while the Freightos Baltic Index Asia-Mediterranean leg was ...