Carriers could correct charter market boom
A charter market correction could be looming amid the deterioration in spot rates. Citing the ...
By Mike Wackett
General rate increases (GRIs) announced by Asia-Europe carriers for today have failed to arrest the decline in spot rates, which plunged this week by 21% for North Europe and by 15% for the Mediterranean.
The Shanghai Containerised Freight Index (SCFI) saw the North European component sink $192 to $740 per teu, while Mediterranean destinations fell $153 per teu to $869, as buyers appeared to simply ignore the rate increases.
Carriers had announced GRIs ranging from $450-$500 per teu in what they expected ...
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June 04, 2016 at 12:52 pmUp until the middle of the 20th century these shipping services were provided by large liner companies and certain smaller companies serving specific trades mainly in the dry cargo markets. They were mostly located in the developed countries of Europe, Asia and the USA and certain fleets were directly owned by energy suppliers.