Comment / On the wires: Freight rates – where the winds blow...

It is a curiosity indeed – the supercharged ocean freight rate environment of the past two years is clearly transmogrifying, as pricing on the transpacific and Asia-North Europe continues to slip down towards pre-pandemic levels. Meanwhile, the hitherto much more stable transatlantic trade continues to operate at elevated levels, seemingly buoyed by the continuing strength of the dollar vs the euro, which is making European products affordable to US consumers.

“The transatlantic trade defies gravity,” Xeneta chief economist Peter Sand told ...