News / Container lines must take drastic action to halt the freight rate rot and stay afloat

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The poor health of the Asia-North Europe tradelane is forcing the four ocean carrier alliances into a headlong rush to cancel sailings ahead of 1 July general rate increases, although one leading analyst claimed that nothing less than suspending four strings could prevent further financial disaster for lines.

Friday saw the Asia-North Europe component of the Shanghai Containerized Freight Index (SCFI) shed another $38 to reach another all-time low of $205 per teu, driving spot rates deeper into calamitous sub-economic levels.

Moreover, ...