TPM: Weak Asia-Europe rates don't mean it's a weak market
The recent spot rate weakness on the main east-west container should not be mistaken for ...
By Mike Wackett
After three consecutive weeks of decline, Asia-Europe container spot freight rates this week bounced back, ahead of Monday’s GRIs and FAK increases.
The boost comes not a moment too soon for ocean carriers posting some of the worst quarterly results in the history of liner shipping.
As the peak season began in earnest and shippers scrambled to secure space, the Asia-Europe components of the Shanghai Containerized Freight Index (SCFI) leapt 57.8% to North Europe and 51.2% to Mediterranean ports, taking spot rates to $1,125 and ...
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