News / Troubled Korean container lines blamed for 'surprise' drop in Asia-Europe spot rates

Container spot rates between Asia and North Europe and the Mediterranean tumbled again this week, suggesting that talk of a truce in the carrier rate war was premature.

The Shanghai Containerized Freight Index (SCFI) recorded a fall of 17.8% for rates to North Europe, which were down by $117 to $540 per teu.

For Mediterranean ports, the SCFI declined 16.2%, down $128 per teu to $660.

With capacity cut right back and ships sailing to Europe full, there seems to be a complete absence ...