News / Ocean carriers benefit from steady rates as new contracts are signed

Container spot rates between Asia and Europe held steady this week, while the erosion of transpacific rates slowed notably as annual contract negotiations intensified.

The Asia-North Europe component of the Shanghai Containerized Freight Index (SCFI) slipped just $4 to $815 per teu, after losing $17 and $45 in the two previous weeks.

This is exceptionally good news for ocean carriers on the route which have not only succeeded in negotiating “significantly higher” annual contract rates, but are benefiting from much higher spot rates ...