News / Boom time 'just a memory' as rates tumble before Golden Week holiday

© Ikarth

Container freight rates from China remain on the slide ahead of the Golden Week national holiday early next month.

Rates are falling due to weak demand during a period which should see a spike in bookings before the week-long factory shutdown.

Indeed, reports from China suggest sailings this week to North Europe and the US have seen utilisation levels drop to 80% on some export loaders, prompting carriers to urgently ramp up their blanking programmes through to the middle of October.

Xeneta’s XSI ...