News / Peak season capacity cuts hit home as Asia-Europe spot rates edge back up

© Vladimir Serebryanskiy Maersk

After weeks of erosion, Asia-North Europe container spot rates appear to have responded to peak season capacity cuts and are edging back up. 

The North Europe component of today’s Shanghai Containerized Freight Index (SCFI) recorded a 12.2% increase in rates to $754 per teu, while rates for Mediterranean ports were up by a more modest 3.3%, to $718 per teu. 

Asia-North Europe ocean carriers serving the route have withdrawn some 150,000 teu of capacity this month and next, due to weak demand, and in order to ‘stop the rot’ in ...