News / 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, today.

“It has certainly been a mad week,” added a European freight forwarder.

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

Drewry’s World Container Index (WCI) this week saw its Shanghai-Rotterdam leg rise ...