East-west rates diverge as transpac spots hold while Asia-Europe keeps falling
Container spot freight rates on the main east-west trades diverged this week after a series ...
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By Mike Wackett
Container freight rates have yet to see any significant erosion, despite the coronavirus pandemic’s stranglehold on demand.
But the aggressive blanking programmes of carriers is disguising the real picture, according to Bimco’s chief shipping analyst, Peter Sand.
Indeed, for spot rates the SCFI cumulative index is still some 10% higher than 12 months ago, while its longer-term CCFI contract component is 9% higher.
The analyst said the blanking, combined with slower steaming and diverting ships around the Cape of Good Hope, was “artificially ...
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