News / Ocean carriers hold contract rates 'at a decent level', as spots tumble

While spot rates across the major deepsea trades have been on the decline since the turn of the year, long-term contract rates appear to be heading in the other direction, according to new analysis from freight rates benchmarking platform Xeneta.

It found that contract rates on the Asia-Europe trade recorded on its platform on 1 January were 57% higher than at the same point the year before.

While spot rates are heading towards worrying territory for carriers, anecdotal evidence suggests that, in ...