News / Price war as carriers compete for cargo driving down container spot rates

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Container spot freight rates on the major east-west liner trades experienced another week of decline, as slack demand continued to depress pricing.

The Drewry’s World Container Index’s (WCI) composite global rate showed a week-on-week decline of 10%, to $2,795 per 40ft, dragging overall rates down to a level last seen in April last year, shortly before an early peak season on the Asia-Europe trades led to an upsurge in spot rates.

It is still way too early in the year to determine ...