North Europe rates remain under pressure with spot rates dropping below $2,900/feu against the latest SCFI assessment of $3,234/feu. Carriers continue to slash rates after capacity utilization slipped in the past week.
Average weekly capacity in August will be higher than July, with weeks 32-34 expected at over 350,000 teu per week.
Gemini carriers continue to maintain a 100% sailing record on its North Europe network, with no blank sailings since April. While this approach has enabled Maersk