News / Freight rates tumbling in Asia as carriers prepare for the slack Chinese holiday period

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Container spot freight rates from Asia to Europe collapsed this week with rates for North Europe plunging by 26% and rates for Mediterranean ports dropping by 28%.

Today’s Shanghai Containerized Freight Index (SCFI) fell overall by 9.5% on the week, with all of the main routes showing decline.

But the most damage was felt in the world’s biggest tradelane, Asia-Europe.

Spot rates for the Mediterranean fell $240 per teu to $629, and for North Europe rates slumped by $195 to $545 per teu, ...