News / Capacity cuts reward container lines as rates hold steady on east-west trades

© Chuyu

Carriers were rewarded for their proactivity in the run-up to Chinese New Year, heading off the traditional seasonal rate tumble with capacity cuts.

Following last week’s round of regressions, this week’s container spot rates on the major routes remained mostly stable.

Only on Asia-Europe sailings did the rate of decline intensify, down 1.7% week-on-week to $1,023, according to today’s Shanghai Container Freight Index (SCFI), compared with last week’s dip of 1.05%.

Asia-Mediterranean sailings saw an increase, though not one to crow about, of ...