News / Carriers need to cut more capacity for March GRIs to hold

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Container freight spot rates on the major trades continued to slide this week, forcing carriers to prepare price hikes for next month, particularly on the Asia-Europe trades.

In response to weeks of falling spot rates, carriers announced a series of new FAK [freight all kinds] levels for ex-Asia shipments to North Europe and Mediterranean ports.

Drewery’s World Container Index (WCI), which records prices paid over the past seven days, saw its Shanghai-Rotterdam leg decline 8% week on week, to $2,887 per 40ft, ...