Container freight rates are tumbling on major east-west routes. That is no surprise as demand typically drops after the Chinese New Year holidays, prior to which shippers rush to fulfil shipments ahead of factory shutdowns.
But the jury is out on the bigger question: How much further do rates have left to fall?
Box rates out of Asia to Europe and the US fell in double-digits in the week following the Lunar New Year, suggesting they still have some way to go if they are to match drops of between 25% and 50% in the first four months of 2017.
