News / More container capacity pulled as Asia-Europe shipping rates suffer further declines

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The 2M alliance of Maersk and MSC has followed the other three east-west vessel sharing alliances by removing one string – the AE9/Condor service – from its Asia-North Europe menu as peak season demand remains weak and spot rates tumble again.

The Asia-Europe components of the Shanghai Containerized Freight Index (SCFI) shed $193 per teu for North Europe and $218 per teu for the Mediterranean this week, following losses of $276 and $240 per teu respectively in the previous week.

In the ...