A ‘Carrier-Controlled Market’ as Spot Rates Rise and Capacity Tightens

“You take away all sense and rationale. And whatever is left, is the container shipping market,” said Peter Sand, Xeneta’s chief analyst, on Friday.

The continuing Red Sea crisis, in combination with higher-than-expected demand, caught many forwarders on the back foot over the past two weeks, and last week the spot freight rate indices began to match anecdotal trade reports.

Spot rate rises were strong on the Asia-North America trades, with the XSI transpacific trade rising 145%, to $3,754 per 40ft, while the WCI Shanghai-New York leg showed a 116% jump, to finish the week at $5,089 per 40ft.

Read more in an article from The Loadstar.