Ocean Freight News

ocean freight news

There were further double-digit increases in container spot freight rates this week after a series of general rate increases and other surcharges took effect on 1 June, a day or two after last week’s indices were published.

And European freight forwarders are warning that spot rates from Asia would breach the five-figure mark next month. One told The Loadstar: “As anticipated, spot rates from 1st July are breaching the $10,000 per 40ft barrier, and several carriers’ online pricing platforms already reflect this.” According to a report by the BBC this week, the spot rate surge is beginning to bleed through into retail prices on the high street, driving them up.

“Just as rates climbed on a combination of pre-lunar new year demand, and restricted capacity in the first months of the diversions and subsided once demand eased, prices and disruptions should decrease when peak season slows this time as well, although, until Red Sea traffic resumes, we can expect rates to fall no lower than their April floor,” he added.

Data Source: The Loadstar