SCFI spot rates to North Europe fell sharply last week, dropping by 15.9% from the pre-holiday level with blank sailings unable to keep pace with the drop in cargo volumes across most Far East origins. Rates to the Med have held up relatively better, with the Med rate premium over the North Continent widening to 68% with the strong demand in the Red Sea taking away some of the Med capacity operated by niche carriers that are using the faster Suez route.
Although Hapag-Lloyd announced a speculat