News / Shock for carriers as spot rates fall below long-term contract prices

Photo 27920611 © Xuejingwen | Dreamstime.com

Spot container freight rates on the main east-west deepsea headhaul trades continued to edge downwards this week, amid a softening of demand as western consumers grapple with the rising cost of living crisis.

A survey of SME shippers by Freightos shows that more than half the respondents have placed peak season orders early in the hope of building inventory, while two-thirds said they were already experiencing a decrease in demand, which most of them attributed to inflation.

This early booking seems to ...