News / Spot rate hikes and cancelled voyages loom as Year of the Dog approaches

© Philipmorch

Asia-to-Europe shippers have reported that some containership sailings have rolled-over bookings this week ahead of the build-up to Chinese New Year (CNY).

However, container spot rates have yet to reflect the capacity squeeze, with the North Europe component of the Shanghai Containerized Freight Index (SCFI) this week edging up by just 2.8% to $888 per teu, while rates to Mediterranean ports were unchanged at $738 per teu.

Nevertheless, according to The Loadstar’s sources, carriers have begun notifying their European customers of big rate ...