• Asia-North Europe declines steadily; Med shipments follow similar trend
• Sentiment stable despite concerns about congestion at major Chinese ports

European container markets experienced consistent declines for the week ending February 7, as market activity remained muted following the conclusion of the Lunar New Year celebrations across Asia.

As concerns about congestion at key container ports linger, sources reflect a relatively flat sentiment in the market.

One shipbroker noted, "I don't think there is much congestion at Chinese ports right now, but we will see congestion after [Feb. 15], when proper movement begins. This will primarily impact the Asia-Europe trade due to delays at both ends of the supply chain."

Meanwhile, other reports indicate a decline in rates, coupled with rising congestion at European ports.

Monitoring container freight rates from North Asia to North Continent Europe, Platts Container Rate 1 -- PCR 1 -- was assessed at $2,700/FEU on Feb. 7, sustaining minor declines, dropping by $300 on the week.

Into the Mediterranean, rates on the spot Freight All Kinds (FAK) market dropped $100 on the week to Feb. 7, as Platts Container Rate 3 -- PCR 3 -- was assessed at $4,200/FEU.

Platts is part of S&P Global Commodity Insights.