Europe-E Asia box rates plummeting alongside backhaul demand
Forwarders are being quoted rates as low as $1 on backhaul routes to East Asia, ...
Two months on from Chinese New Year and the traditional post-holiday blip shows no sign of abating on Asia-Europe routes, with the ocean container rate declines continuing.
Last week’s Drewry World Container Index (WCI) posted a week-on-week decline of 3% on Shanghai-Rotterdam and, while the Shanghai Containerised Freight Index’s Shanghai-North Europe route was flat, both indices reported week-on-week dips of 2.5% to 4% on Shanghai-Genoa.
Universal Logistics’ Jimmy Liu told The Loadstar: “Nearly two months after ...
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