Ocean freight container shipping spot rates are anticipated to rise further, although the recent significant growth appears to be decelerating.
According to the latest data from Xeneta, a benchmarking and intelligence platform for ocean freight rates, spot rates on major routes from the Far East will see an increase, but not as sharply as in May and early June.
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For instance, average spot rates from the Far East to the US West Coast are expected to climb by 4.8% on June 15, reaching $6,178 per 40-foot equivalent container (FEU). This is notably less than the 20% rise observed on June 1.
Similarly, rates from the Far East to the US East Coast are set to grow by 3.9% on June 15, to $7,114 per FEU, compared to a 15% increase on June 1.
In Europe, average spot rates from the Far East to North Europe are expected to rise by 10% on June 15, reaching $6,357 per FEU. Although this is lower than the 20% increase on June 1, it remains a significant mid-month hike.
Rates to the Mediterranean are set to rise by 7.2% on June 15 to $7,048 per FEU, compared to a 19% increase on June 1.
Source: www.container-news.com