Announced over the last six weeks, the proposed rate hikes would be the largest ever for the Far East-Europe trade, ranging from $750-$1000/teu when spot rates sit at an unsustainable $550/teu, closely following the largest ever rate slides on the trade.
Low utilisation levels are are hampering the rate increase attempts, with vessel load factors at 80%, forward rates suggest increases in the region of $430/teu, Alphaliner reports.
With five failed attempts at raising rates so far this year, July's proposals rely on the strength of the peak season, which is forecast to be mild and short.
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