Disconnect: time-charters and the freight market
Time to jump off?
© VanderWolfImages
By Mike Wackett
Container spot rates from North Europe to the US east coast dipped below $4,000 per 40ft this week, having halved in value in the past 12 months.
The Freightos Baltic Exchange (FBX) transatlantic headhaul component lost another 5%, to bring its average rate down to $3,894 per 40ft, as an aggressive capacity injection by carriers exerted downward pressure on rates.
Indeed, with anecdotal reports of ships sailing from North Europe only 60% full, it can only be a matter of weeks before ...
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