Spot rates to North Europe and Med dropped sharply last week, with the SCFI
falling by 13.2% and 14.0% respectively as carriers continued to slash rates at
an aggressive pace.
Latest market rates surveyed to North Europe ranged from $2,900/feu to
$3,500/feu down from $3,400/feu to $4,200/feu a week ago with the 2M and OCEAN
Alliance carriers forced to match the aggressive rate cuts by THE Alliance
carriers.
Although port congestion remains serious across key Chinese and European ports,
this ha