News / Asia-Europe shipping rates on the up, but it's too early to talk of a recovery

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Long-term contract rates agreed over the past three months between major ports in China and North Europe have soared by 64%, according to container freight rate benchmarking platform Xeneta.

Xeneta’s calculation is based on the average market prices – June 2017 compared with June 2016 – of more than 1,500 contracted rates populating its platform for this corridor.

However, despite the spike in contract rates, Xeneta says it is still too early to talk of a sustained recovery in the trade, given the continued weak fundamentals of overcapacity ...