Falling rates welcome news for European shippers in tender season while Transpacific edges downwards
The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.
Xeneta analyst insight – Falling rates welcome news for European shippers in tender season while Transpacific edges downwards
Peter Sand, Xeneta Chief Analyst:
“Spot rates on the Far East to Europe trades have fallen heavily since the post-Hormuz crisis peak in July. The Mediterranean is taking the biggest hit, down 43% since 1 July, while North Europe is down 34%. The pace of the decline has eased a little, but rates are still elevated and the trend is still downward, so we are not at the floor yet. (....)