News / Containerships 'full to the gunwales' on Asia-North Europe as rates hit 20-month high

Containerships sailing from Asia to North Europe are running “full to the gunwales” ahead of the Chinese New Year (CNY) holiday this month, causing a spike in spot rates and a rollover of lower-rated contract cargo.

UK NVOCC Westbound Shipping Services said today that, in the present climate, the lowest-rate contracts “are worthless” as a guarantee of shipment on board.

Headquartered at DP World London Gateway, Westbound claims container lines will either admit the rates are too low and refuse the booking, ...