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Container freight spot rates decline, but liftings are 'still good' - for now
30 Mar, 2020

Container spot rates from Asia to Europe and the US held up reasonably well this week, on good vessel utilisation levels, but the outlook for carriers is increasingly uncertain.

The Shanghai Containerized Freight Index (SCFI) recorded a 4.1% decline for North Europe, to $764 per teu, which is still some 17% higher than the same week of a year ago, when even traditional heavy fuel oil was around a third more expensive than the compliant low-sulphur fuel.

But the trade is sending out mixed messages, according to Flexport's head of ocean freight for the Asia-Europe trades, Martin Holst-Mikkelsen.

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