News / More peak season carrier gloom as container rates continue to fall

© Aydindurdu

Container spot rates on the two biggest tradelanes slumped again this week, as the optimism expressed by carriers for a satisfactory peak season all but evaporated.

The north Europe component of the Shanghai Containerized Freight Index (SCFI) fell a further 2.3%, to $793 per teu, which represents a massive 20% decline on rates since January, and is 17% below the level of 12 months ago.

Despite attempting to squeeze capacity and threatening to “100% roll cargo” in notifications to customers, Asia-North Europe ...