News / GRI farce goes on as Asia-Europe carriers are forced to discount rates to fill ships

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Here we go again: Asia-Europe container lines encouraged by an August 1 GRI-induced $400 per teu spot rate hike, saw more than half of this recovery lost this week as the continuing soft peak season forced them to discount to fill their ships.

Today’s Shanghai Containerized Freight Index (SCFI) records rates from Asia to North Europe having tumbled by $276 per teu, and for Mediterranean ports by $240 per teu, representing its largest weekly decline since the index’s official inception in ...