News / Carriers run out of niche trades as pressure grows and freight rates tumble

07/07/2023

Container spot rates on the transatlantic took a hammering this week, losing over 20% of their value, and the pressure has also started to build on other, previously resilient, tradelanes into which carriers have injected more capacity.

Xeneta’s XSI North Europe to US east coast average rate slumped 22%, to $1,590 per 40ft, in the past seven days, having collapsed from about $7,000 at the start of the year.

Carriers decided to take advantage of the more robust transatlantic route by adding ...