News / 'Peak season already over' as ocean freight rates collapse further

© Andrii Yalanskyi

Carriers’ efforts to stave off a rates collapse have met with marginal success over the past few months, but the crash of last week, when Asia-North Europe rates tumbled 34% to less than $996 per feu, marked an end to this.

MSI found that European demand for imports from Asia increased by some 5.9% in July, compared with a year earlier, entailing a YoY improvement in the year-to-date of 2.8%.

However, concerns over inventories still seem to be affecting the US, ...