New services and reinstated blanked sailings boost transpacific capacity
The Gemini Cooperation has introduced an additional transpacific service as a rush of demand and ...
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By Mike Wackett
Ocean carriers plying between Asia and North Europe are facing one of their biggest challenges after container spot rates gave up last week’s gains, halving to just $275 per teu.
The Shanghai Containerized Freight Index (SCFI) Asia-North Europe component recorded a $279 per teu drop this week after it had jumped by $259 the previous week on the back of carriers’ attempts to introduce general rate increases (GRIs) of around $1,000 per teu from 1 December.
The sub-economic rate level on the ...
Comment on this article
John Roberts
December 04, 2015 at 4:24 pmI’ve been saying it for a while, this GRI model is outdated and clearly doesn’t work.
The shipping lines needs to put their heads together to come up with a pricing strategy that works for all their stakeholders because the current system doesn’t work for anyone and everybody knows this.
If they can’t come up with a system between them, one of the shipping lines will work it out for themselves and we’ll see casualties as the others try to keep up.