News / Maersk and MSC fire first shots in new freight rate war on Asia-Europe trades

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Deepsea container carriers, led by Maersk and MSC, have started cutting Asia-Europe rates in the hope of filling their ships during the usual post-Chinese New Year lull.

On Friday, the Shanghai Containerised Freight Index showed a 4% drop in Shanghai-North Europe rates, to $2,851 per teu.

Meanwhile, Korea Ocean Business Corporation’s Container Composite Index, based on departures from Busan, yesterday showed a 3% drop in rates for North Europe-bound shipments, averaging $5,283 per feu.

Similarly, the Ningbo Containerised Freight Index, compiled by the ...