The pace of the SCFI and SCFIS declines continued to accelerate last week with
the SCFI assessment to North Europe falling by 11.9% while the SCFIS that came
out after market close on 2 Sep dropped by 6.9% following the previous week’s
7.3% decline.
Carriers continue to cut their spot rates, with average FAK quotations falling
below $6,000/FEU with carriers giving up all the rate gains secured since June
this year. Asia-North Europe volumes are down 5% from their peak, with average
capacity uti