SeaIntel: Price war coming to an end
Within the next 4-8 weeks, the leading container carriers will announce drastic rate increases while pulling ships out of Europe-Asia. The current rate level is completely unsustainable and highy loss inducing, writes SeaIntel.
BY OLE ANDERSEN
The current price war on the spot rates in container traffic between Asia and Europa is coming to an end. Not because the rates are about to go up, quite the opposite. And not because the carriers are pulling capacity out of the market. Right now, in fact, it looks like the carriers will only pull out a modest amount of capacity during the next 12 weeks, at just 2.4 percent. In comparison, the latest numbers from Container Trades Statistics (CTS) show that cargo volumes have gone down 7.7 percent.
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