Asia-Europe rates are faltering with the capacity overhang in play while demand
has started to slow. Port congestion along the Asia-Europe corridor is still
keeping capacity growth in check. Although capacity utilization remains healthy
and is still running at 3% higher compared to a year ago, the earlier space
pressure has eased with average utilization for the week before falling to 92%
as opposed to the preliminary reading of 96% reported last week as a few late
sailings departed from the las