Subscribe to RSS feedSpot rates plunge to zero for Asia-Europe trade
by
Obsidian
—
last modified
Jan 21, 2009 12:00 AM
Ocean freight rates in the Asia-Europe trades have plunged to zero for some spot cargoes as container lines battle for market share against a background of shrinking volumes.
Industry sources in Singapore and Europe say a growing number of boxes are being shipped westbound from Asia for next to nothing, with lines merely levying bunker and currency adjustment factors, and other extras.
Some ocean carriers have been offering...
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