Freight rates set to climb in early October – but will the trends that we have seen since 1 July change after Chinese October holidays?
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 – the ‘beginning of the end’ for present freight rate trends?
Peter Sand, Xeneta Chief Analyst:
“For the high-flying spot rates from Far East to US East and West Coasts, we may just begin to see the end of that rising trend as we get into the first half of October. When comparing today’s spot rates to the level experienced on 1 July – shippers are paying on average $2,691 (+31%) and $1,280 (+18%) per FEU more.
“For containerized goods moving on the short-term market into North Europe and the Mediterranean, where freight rates have been declining since 1 July, by 29% ($1,590 per FEU) and 38% ($2,650 per FEU) respectively, early October may provide a short pause before a resumption of the falling trend. (....)