News / Carriers upgrade Asia-Med services as container rates to north Europe soften

© Iakov Filimonov

With the demand outlook from Asia to North Europe hobbled by recession fears and Brexit uncertainty, ocean carriers are beginning to look further south for growth.

Container spot rates for Mediterranean ports have shown a greater robustness than North European rates over the past year and, according to the latest reading from the Shanghai Containerized Freight Index (SCFI), are $60 per teu higher than a year ago at $857, whereas North Europe rates are $831 per teu, down from $916 twelve ...