News / Shipping rates rocketing again, with contract talks 'a game of musical chairs'

Container spot rates are beginning to head upwards again across all trades from already elevated levels, as carriers reduce their commitment to contract volumes in favour of much higher FAK rates.

The Freightos Baltic Index (FBX) China-North Europe component edged up to $7,316 per 40ft this week, and market reports to The Loadstar suggest rates on the route are set to soar again next week, returning to their mid-February peak of $8,430, and possibly higher.

“The squeeze on shipping capacity on the ...