Carriers need to cut more capacity for March GRIs to hold
Container freight spot rates on the major trades continued to slide this week, forcing carriers ...
Container spot rates between China and North Europe soared this week on the back of 1 May general rate increases (GRIs), strengthening demand and concerns over the financial stability of ocean carriers.
The Asia-North Europe component of the Shanghai Containerized Freight Index (SCFI) leapt $461 to $732 per teu – a massive 170% increase on the week.
And spot rates to Mediterranean ports, which had not eroded as badly in recent weeks, jumped 138%, or $547 per teu, to $944.
The spot rate surge ...
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