Ocean container freight rates move in mysterious ways, demonstrated by the most dramatic increases since escalation of conflict in the Middle East being found on trades that do not transit the region.
Latest Xeneta ocean container shipping data highlights are provided below quotes from Xeneta Chief Analyst Peter Sand.
Xeneta has also published a dedicated webpage with the latest updates on the Middle East conflict including a live port congestion map.
Xeneta analyst insigh
tPeter Sand, Xeneta Chief Analyst
“Ocean container freight rates can appear to move in mysterious ways, demonstrated by the most dramatic increases across the world’s major fronthauls since escalation of conflict in the Middle East being found on trades that do not transit the region – the Transpacific from Far East to US West Coast and Transatlantic from North Europe to US East Coast.
“If the reason given to shippers for spot rate increases of more than 40% on these US-bound trades since the end of February is a tightening of capacity, the data shows this doesn’t hold much water. There is nothing spectacular happening with offered capacity or blanked sailing on the Transpacific or Transatlantic trades that would suggest rate increases of this magnitude. (....)