By next month capacity on the Asia to Mediterranean trade will have increased by almost 20% year-on-year, according to new research from Drewry, as ocean carriers ramp up the cascade of redundant tonnage from North Europe loops.
But rates on the route are under pressure. At currently around $800 per teu, container spot rates are some 5% below the level of a year ago, with weak demand post-Chinese New Year expected …
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