SCFI spot rates to Europe continue to weaken in the week ended 14 February with no pick up in cargo volumes after the Lunar New Year holiday in the Far East. SCFI spot rates fell by 10.9% with actual spot rates slipping to $2,400-$3,000/feu to North Europe although carriers are aiming to raise rates above $4,000/feu again on 1 March as bookings are resuming after the holidays.
Port congestion in Europe could disrupt the schedules of the ships returning to Asia in the next 2 months, which could