The 2M’s decision this month to remove 6% of westbound capacity on the Asia-North Europe tradelane will not be enough to push up freight rates, but should “temper the decline”, said Drewry.
Container spot rates on the route have slumped by 18% since the end of August and now sit at some $766 per teu, just ahead of next week’s Chinese Golden Week holiday which traditionally heralds the slack season.
Drewry said 2M partners …
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Source: The Loadstar