News / Box rate bounce on Asia-Europe ocean trade may bode well for this week's GRIs

After 11 consecutive weeks of declines, container shipping spot freight rates between Asia and Europe edged upwards last week.

However, there is still no traditional spike showing in the market ahead of carriers’ general rate increases (GRI) scheduled for Friday.

The Shanghai Containerised Freight Index (SCFI) on 25 March recorded an increase of $42 per teu for North European ports and $53 per teu for Mediterranean destinations, taking the rates to $247 and $248, respectively.

This is good news for embattled carriers on the ...