News / Another new low for Asia-Europe rates as carrier GRIs again fail to make an impact

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In a further worsening development for ocean carriers, their 1 June $800-$1,000 per teu general rate increases (GRI) on Asia-Europe have failed to make any impression on container spot rates.

Hitherto, GRIs could usually be expected to show some short-term gains and at least ‘stop the rot’. But the Shanghai Containerized Freight Index (SCFI) for North Europe and the Mediterranean remained in decline this week, shedding another $58 and $87 per teu respectively.

Spot rates to North Europe recorded another all-time low, ...