News / North Europe rates still falling, while the transpacific spikes

Container spot rates from Asia to North Europe remained under pressure this week, while transpacific rates have been boosted by potential supply chain issues linked to US west coast industrial action and Panama Canal draught restrictions.

As peak season orders continue to disappoint, the Freightos Baltic Exchange (FBX) Asia-North Europe component slumped 16% in the past seven days, to $1,195 per 40ft, which compares with $10,599 a year ago.

Stubbornly high inflation and expectation of further hikes in interest rates mean European ...