News / Container rates reaching new lows – now carriers pin all hopes on November GRIs

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By Mike Wackett

16/10/2015

The world’s biggest ocean freight forwarder, Kuehne + Nagel, said this week it had “given back” around 120,000 teu of business between Asia and Europe this year, because the margins were too low.

This statement by KN chief executive Detlef Trefzger at its third-quarter results on Tuesday revealed that it is not only carriers which suffer from freight rates sinking into sub-economic waters.

And spot rates from Asia to Europe continued to fall this week, with the Shanghai Containerised Freight Index (SCFI) ...

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Hapag-Lloyd Kuehne + Nagel Rates: the eternal tango

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