SeaIntel: Mediterranean collapse has now spread to all of Europe

What looked like a successful coordinated rate increase on Asia – Northern Europe has now been destroyed by the Mediterranean rate collapse.

The shipping companies’ latest attempt at pushing up the rates on Asia – Northern Europe, starting November 1st, has been far from successful, concludes SeaIntel just a few weeks after the announced rate increases came into effect.

According to SeaIntel partner Lars Jensen, the real reason is to be found in Southern Europe, as the collapsed rate increases on Asia –Mediterranean have now spread to cover all of Europe. Instead of the rate increase on Asia – Mediterranean that the shipping companies were hoping for, the rates are now, according to SeaIntel, 20 percent below the level immediately prior to the introduction of the rate increases.

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