Asia-Europe rates are torn in 2 different directions, with the SCFIS declining by 1.4% on 26 May, while the forward looking SCFI recorded a strong gain of 14.1% on Friday. Carriers have stumbled on their bid to hike rates on 1 June, with Maersk once again undercutting their rivals even before the GRI was implemented.
Rising congestion at European ports have severely disrupted schedules, with ships rerouting where possible to avoid berthing delays but this has failed to lift market momentum. Alt