Both of the major east-west tradelanes recorded significant falls on today’s Shanghai Containerized Freight Index (SCFI), reflecting an increasingly soft demand environment.
The Asia-Europe components of the SCFI saw container spot rates for North Europe decline 8.3% to $831 per teu, and rates for Mediterranean ports lose 6.8% to $857 per teu.
Despite ocean carriers cancelling 13 Asia-North Europe sailings to mitigate the impact of post-Chinese New Year weak demand, the lines …

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Source: The Loadstar