New GRIs set for new year as Asia-Europe container shipping rates drop once more

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There was little Christmas cheer for Asia-Europe ocean carriers today as the Shanghai Containerised Freight Index (SCFI) declined on both North Europe and the Mediterranean legs, leaving container lines in a precarious position going into the new year.

After a brief recovery last week, when SCFI spot rates for North Europe registered a gain of $428, this week saw a $145 drop to $558 per teu, a figure that is around half of the average freight rates over the year when ...