More peak season carrier gloom as container rates continue to fall

August 23, 2019 Mike Wackett

Container spot rates on the two biggest tradelanes slumped again this week, as the optimism expressed by carriers for a satisfactory peak season all but evaporated.
The north Europe component of the Shanghai Containerized Freight Index (SCFI) fell a further 2.3%, to $793 per teu, which represents a massive 20% decline on rates since January, and is 17% below the level of 12 months ago.
Despite attempting to squeeze capacity and threatening ...

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