News / Box carriers sail towards a tipping point of ocean freight rates and fuel

© Thomas Lukassek

The bellwether Shanghai Container Freight Index (SCFI) did not publish today, due to the national holiday in China, but current sentiment suggests that ocean carriers will find their rates under pressure following the Golden Week break.

Last month, the Asia to North Europe component of the SCFI shed 21% to $735 per teu, while for Mediterranean ports there was a smaller decline of 15% to $767 per teu.

Anecdotal reports from The Loadstar’s sources refer to a “sharp dip” in load factors on ...