News / Asia-Europe rates show further decline as carriers stretch April GRI implementation

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Container freight rates on the Asia-Europe trade suffered a further decline last week as the slide into loss-making terrritory for shipping lines continued apace.

The Shanghai Containerised Freight Index (SCFI) again posted a double-digit drop, seeing 10.1% of the spot rate from Shanghai to North European base ports shaved off, declining from $988 per teu to $888 per teu.

The fall also means that the March average rate for the route has fallen below the critical $1,000 per teu mark, and now ...