Ocean carriers plying the Asia-North Europe tradelane are taking measures to “stop the rot” by cancelling more sailings, according to Alphaliner.
Spot rates on the route have slumped to a 12-month low.
The North Europe component of the Shanghai Containerized Freight Index (SCFI) slid a further 2.7% last week to $640 per teu, and has fallen by 36% since early January.
Anecdotal reports to The Loadstar suggest carriers are beginning to panic and …

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Source: The Loadstar