News / Spot rates to North Europe coming off the boil in a waning market

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Notwithstanding CMA CGM’s moratorium on spot rate increases yesterday, there is some evidence that freight rates from Asia to North Europe may already be coming off the boil for shipments after China’s Golden Week holiday in October.

According to two Chinese forwarding agent sources Hamburg Süd has reduced its October Shanghai to Felixstowe rate offer to $15,000 per 40ft, which is some $2,000 to $3,000 below current prices.

Although the offer is limited to 20 October, the forwarder said he thought it ...