Long-haul freight rates have given way to the lack of capacity discipline, as the Shanghai Containerized Freight Index (SCFI) lost ground after three weeks of gains.
On 18 August, Asia-North Europe rates fell to US$852/TEU, down from US$926/TEU the previous week, while Asia-US West Coast rates dipped to US$2,003/FEU, from US$1,507/FEU on 11 August.
Linerlytica said that market sentiment has turned negative again, as recent rate increases have failed to hold, adding, “The setback will make it...
https://container-news.com/freight-rates-lose-gains-after-three-weeks/