News / Battle for market share heats up as Asia- Europe box rates take a record tumble

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The battle for market share on the Asia-Europe tradelanes moved up a gear this week with a massive $214 per teu plunge in spot rates to North Europe and a $195 fall in rates to Mediterranean ports.

Today’s Shanghai Containerized Freight Index (SCFI) for North Europe is down 32.5% to just $444 per teu, having shed $417 in the past two weeks and conceding any gains from 1 May general rate increases.

In percentage terms, it was the single largest weekly drop ...