News / Freight rate news is rough, but there may be smoother sailing ahead for container lines

21/10/2016

Bids to raise prices by Asia-Europe ocean carriers have so far failed to lift container spot rates, which remained stubbornly flat this week.

Despite mid-month GRI (general rate increase) and FAK (freight all kinds) container freight rate hikes, the Shanghai Containerized Freight Index (SCFI) was virtually unchanged from the previous week on its two biggest tradelanes – to Europe and the US.

OOCL, for example, announced an $800 per teu Asia-Europe GRI for 17 October, but it appears that the carrier, along with its peers ...