Drewry WCI fell for the 11th straight week, dropping 5.82 per cent to $2,119/FEU on August 28 amid weak demand and surplus vessel capacity.
Transpacific and Asia–Europe spot rates declined sharply, with Shanghai–Rotterdam down 10 per cent.
Drewry expects further declines as US retailers slow procurement and warns the supply-demand balance will weaken in the second half of this year.
Transpacific and Asia–Europe spot rates declined sharply, with Shanghai–Rotterdam down 10 per cent.
Drewry expects further declines as US retailers slow procurement and warns the supply-demand balance will weaken in the second half of this year.
