Despite withdrawing significant capacity, Asia-Europe ocean carriers appear to have failed to push up container spot rates as they head into the usually lucrative peak season.
The Shanghai Containerised Freight Index (SCFI) recorded another week of slippage for rates.
The North Europe component declined by a further 1.9%, to $688 per teu, and has now fallen more than 30% since the beginning of the year and around 20% below the level of a year ago.
And SCFI spot rates for …
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