'Crazy' bout of price-cutting to gain marketshare reignites Asia-Europe rates war

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The enigma of ocean carrier commercial pricing was in evidence again this week as Asia-Europe container spot rates took a tumble, despite ships reportedly running full on the headhaul route.

The Shanghai Containerized Freight Index (SCFI) recorded a 22.7% fall in rates to North Europe, which declined by $274 to $932 per teu.

And for Mediterranean ports, there was an 18.9% dip on the week, taking $221 per teu off rates down to $951.

One carrier source told The Loadstar that after the massive 77% ...