NZ ocean spot rates head south as demand softens

21/07/2022

Long-term freight rates to Australia and New Zealand have reached “new highs”, but spot rates are down and forwarders are expecting a sluggish peak season.

According to Xeneta, while in recent months the average rate for new long term contracts has stabilised, they are replacing older ones which were at much lower levels.

The company explained: “For example, on by far the biggest trade into Australia and New Zealand, the average long-term rate from the Far East on 1 July stood at ...