Carriers pushed ahead with Asia-Europe rate hikes in June but the gains were lower than initially expected with the SCFI rates rising to $1,587/teu to North Europe, compared to initial plans to raise rates to $1,800-1,900/teu and $3,000-3,200/feu. Carriers have already started to undercut these rates with the Transpacific rate strength failing to spillover to the European routes.
June rates are expected to roll back as attention shifts to the next round of rate hikes in July with CMA CGM announ