News / Last-ditch price hikes bid to save Asia-Europe peak season nightmare as rates tumble again

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Container spot rates between Asia and Europe fell again this week, sinking to a level of around 50% of their value at the beginning of the month.

Today’s Shanghai Containerized Freight Index (SCFI) shows a 10.4% drop for North Europe to $691 per teu, while spot rates for Mediterranean ports slumped by 15% to $594 per teu.

This represents the third consecutive week that the SCFI has recorded declines in spot rates for Europe, after 1 August GRIs and minimum FAK (freight ...