News / Carriers hope price hikes will hold as spot rates fall in CNY doldrums

ID 348331224 | Cargo © Peterbabnik8 | Dreamstime.com

Despite the muted trading activity since China’s new year holiday began this week, spot rates on most major east-west ocean trades continued to show slight declines.

As a result of the two-week public holiday in China, the Shanghai Containerised Freight Index (SCFI) has suspended publication until people return to work.

Nonetheless, as in recent weeks, Drewry’s World Container Index (WCI) saw the steepest falls on its Asia-Europe routes. The WCI’s Shanghai-Rotterdam leg declined 5% week on week, to end at $3,274 per ...