A 'dead cat bounce', as freight goes from rules-based to deals-based trade?
It’s not artificial intelligence we should be worrying about right now: it’s an artificial freight ...
By Mike Wackett
The Asia to North Europe component of the Shanghai Containerised Freight Index (SCFI) recorded a 4.7% uplift in spot rates this week to $761 per teu, underpinned by a raft of cancelled October headhaul sailings by carriers.
Compared with the same week last year, container spot rates on the route are approximately 2% higher, but the profitability of the container lines is being severely dented by a year-on-year 43% hike in bunker costs, which they have been unable to recover from shippers.
Moreover, ...
Comment on this article
Ingvar Bergman
October 26, 2018 at 6:18 pmAsia/North Europe sailings. Blank sailings to prop up rates is a balancie act on the fence. And the fence is EU antitrust rules. It says :
Capacity adjustments may not concern reductions or capacity freezes which have the specific aim of increasing prices
I dare say this is what Carriers right now are doing !