Fears of a new freight rate war

Mel Pipe, Commercial Director at EUF Group, comments on the industry news this week, that there are growing fears that ocean carriers are sliding towards a new freight rate war.

The Shanghai Containerized Freight Index (SCFI) had recorded six consecutive weekly falls, despite what seems to be strong peak season demand this year.

The discounting of rates just before the Chinese Golden Week holidays next month points to further rate instability as carriers continue to jostle for market share.

Mel commented “We’re following this story closely and as always we will continue to monitor market rates to ensure our clients receive the most competitive rates alongside our first class service levels”.

He added, any clients with concerns can call us at any time on T. 01394 674471 or email me at mel.pipe@euf.co.uk

Read the full article on Loadstar.