47,230 tons of ships from the Liberia region, about 12 nautical miles (22 km) from Tauranga, on the eastern coast of New Zealand’s North Island on October 15, 2015, more than a week after it hit the Astrolabe Reef .
At that time, for North Europe it dropped by 14% compared to the previous week, to $ 399 per equivalent unit of twenty feet (TEU), down 67% from a year ago.
The question was how much the tariff would fall?
Much smaller. Over the two weeks thereafter, for North Europe it dropped by another 14% to $ 343, setting a new low. A 68% collapse of the same week a year ago. Something big happened in China-Europe trade.
Carriers tried to impose strong increases in the rate, pushing an increase of $ 1,300 per TEU, and a group of others had to increase by $ 1,000 per TEU. None of them managed to make them stay.
Rates have lost ground on other routes, such as Australia / New Zealand and the United States East Coast (these rates have been swamped by the West Coast harbor work that has led the ship to overcome it). Thus, SCFI composite for all routes increased to 761, from 702 that was the lowest level of the years! The index has fallen by 34% over a year ago and well below the range of several years between 900 and 1200.
