The rates between Asia and Europe fell in 10 out of the 11 last weeks and thereby, the rates on Maersk Line’s incredibly important route have dropped 35 percent since the peak of $1888 in late June. On Wednesday, Alm. Brand Markets reversed course and announced the death of price discipline within the industry. At Nykredit Markets, this has also caused frowns.
The spot rate between Asia and Europe, measured by Shanghai Shipping Exchange’s SCFI index, fell this week with 5.1 percent to $1218 per twenty-foot container.