News / Carriers wield the axe on more Asia-North Europe sailings to 'stop the rot'

© Matteo Ceruti

Ocean carriers plying the Asia-North Europe tradelane are taking measures to “stop the rot” by cancelling more sailings, according to Alphaliner.

Spot rates on the route have slumped to a 12-month low.

The North Europe component of the Shanghai Containerized Freight Index (SCFI) slid a further 2.7% last week to $640 per teu, and has fallen by 36% since early January.

Anecdotal reports to The Loadstar suggest carriers are beginning to panic and are discounting heavily to improve vessel utilisation.

One carrier source said ...