News / Asia-Europe rates may be 'past their peak': new GRIs may be tricky for carriers

© Christian Lagereek |

With a reading of 1,022.03, the Shanghai Containerized Freight Index (SCFI) comprehensive index is today 30% higher than it was 12 months ago, an upshot of carriers adjusting their capacity wisely in response to the reduced demand impact of the pandemic.

However, today’s SCFI recorded further small declines for container spot rates across the main east-west trades – Asia-Europe and the transpacific – suggesting rates are past their peak and could be on a downward trajectory.

The Asia-US west coast component declined ...