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 ...
Spot rates on the main east-west tradelanes suffered further serious losses this week with carriers seemingly powerless to stop the rate rot, despite a desperate strategy of blanked sailings and announcing massive general rate increases.
Indeed, today’s Shanghai Containerized Freight Index (SCFI) shows a sea of red numbers, with both Asia-Europe and Asia-US sectors losing ground – the latter actually losing more than the previous week’s $600 per 40ft GRI between Asia and the US west coast.
The $309 per 40ft plunge ...
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