News / Doubts over GRIs holding, as Asia-Europe container shipping rates continue to fall

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Container shipping freight rates continued their downward spiral in the post-Chinese New Year slump, as carriers took delivery of new capacity and demand on the Asia-North Europe trade remained skillet-flat.

The Shanghai-North Europe leg of the Shanghai Containerised Freight Index (SCFI) once again led the weakness, with a double-digit percentage decline for the second week running. This morning’s SCFI rate was $708 per teu, a drop of $108 per teu, or 15%, from last week’s level of $816 per teu.

Richard Ward, ...