With the Chinese New Year over and liner operators adjusting their operations to accommodate the diversions round the Cape of Good Hope, rates have peaked and are likely to face downward pressure until the next pick-up in the third quarter, according to the Baltic Exchange’s report.
Freightos’ research lead, Judah Levine, one of the report’s writers, noted that rates from Asia to North Europe and the Mediterranean declined throughout February. North Europe rates decreased by 17% to US$4,553/FEU...
https://container-news.com/red-sea-developments-fail-to-overcome-seasonal-lull-as-rates-correct/