News / Carriers pin hopes on GRIs as Asia-North Europe rates approach an all-time low

© Vladimir Serebryanskiy

Another week of double-digit declines on the major Asia-Europe trades as today’s Shanghai Containerised Freight Index (SCFI) registers big falls in container rates to both North Europe and Mediterranean destinations, which ended the week at virtual parity.

The Shanghai-North Europe leg declined by 22.6%, or $75 per teu, to reach $257 per teu, while the Shanghai-Mediterranean leg fell by 22.7%, a drop of $78 per teu to finish the week on $266 per teu, as the financial pain being suffered by carriers ...