News / Smoother sailing for carriers with higher Asia-Europe contract freight rates

© Philipmorch

Container carriers on the Asia-Europe trade are likely to return to profitability over the next three months, driven by significant increases in long-term contract freight rates.

According to new figures from freight rate benchmarking platform Xeneta, the long-term contract freight rate for a 40ft box out of a Chinese main port to North Europe currently stands at $1,396, shipping in mid-May, some 120% higher than at the same time last year.

It also represents a 10% increase in average contracts over the first ...