A divergence in container spot freight rates between the Asia-Europe and Asia-North America trades emerged this week, with pricing declines into Europe getting sharper, while rates to North America strengthened, week on week.

Market sources believe it was the widespread reduction of capacity through aggressive blanked sailings that prevented transpacific rates from crashing through the floor, and this week’s Drewry’s World Container Index’s (WCI) Shanghai-Los Angeles leg was up 5% week on week, to hit $2,713 per 40ft.

Similarly, the WCI’s Shanghai-New ...