News / New blow for carriers as Shanghai-Europe box rates fall below 'break-even' $1,000

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Sea freight rates on the Asia-Europe deepsea route continued to fall this week, and have now dipped below the crucial break-even level of $1,000 per teu.

The Shanghai Containerised Freight Index’s (SCFI) route between Shanghai and north-west Europe was recorded at $988 per teu, a fall of $122 per teu from the week before, and it means rates have declined some 44% since the beginning of the year, when they were buoyant in the pre-Chinese New Year build-up.

Sources in the market ...