The knock-on effect of almost half a year of disruption caused by war in the Middle East is now spreading into the long-term contract market.
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 - Middle East war impact spreads to long term market
Peter Sand, Xeneta Chief Analyst:
“The knock-on effect of almost half a year of disruption caused by war in the Middle East is now spreading into the long-term contract market. Average long-term rates from Far East to US West Coast and US East Coast are up 41% and 40% respectively since the end of February. Long term rates are also up 41% to North Europe and a lesser, but still significant, 17%, into Mediterranean. (....)