News / Load factors nosedive, pushing carriers to idle ships in a bid to 'stop the rot'

Container spot and short-term freight rates from China remain under pressure after the Golden Week holiday, as sluggish demand obliges ocean carriers to take out more capacity.

Reports to The Loadstar suggest vessel utilisation on sailings from Asia to North Europe this week was much worse than expected, with talk of load factors “below 70%” on some voyages.

Spot rates for North Europe, as recorded by Drewry’s WCI index, fell another 3% this week, to $4,595/40ft, and have lost half of their ...