News / Despite a blip, North Europe container spot rates are still heading south

A pile of cardboard boxes and easel with red arrow down. Decrease in the quality, price, quantity and competitiveness of goods and products. Concept drop in industrial production, sales fall.

05/08/2022

The North Europe component of the Freightos Baltic Index (FBX) unexpectedly jumped 9% today.

This propelled the container spot rate back over $10,000, to $10,494 per 40ft – but the spike is being seen as a temporary blip, given that other indices and market fundamentals are all heading in the reverse direction.

Indeed, Xeneta’s XSI North Europe reading fell a further 4.5% this week, to $9,557 per 40ft, while Drewry’s WCI component fell 2%, to $8,939 per 40ft.

Moreover, today’s Ningbo Containerized Freight ...