News / Stressed carriers hold their breath during Golden Week as contract talks loom

04/10/2019

China’s Golden Week traditionally marks the start of the slack season on the major tradelanes of Asia-Europe and the transpacific.

Before this week’s Chinese national holiday, container spot rates, as recorded by the Shanghai Containerized Freight Index (SCFI), had slumped to nigh year-to-date lows on both routes and there seems no reason to suggest there will be a recovery by the time the SCFI resumes publication on 10 October.

Analyst Alphaliner said: “Further rate weakness is expected to be revealed in the coming weeks, with rates of below $500 per teu to Europe and $1,100 per 40ft to the US west ...