News / Spot rates from Asia 'out of control': pre-CNY quotes of $10,000+ reported

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Container spot rates from Asia to the US and Europe continued to soar this week as a swift solution to the attacks on shipping in the Red Sea by Houthi rebels looks increasingly unlikely.

Moreover, reports to The Loadstar suggest that some shippers of low-rated contract cargo are seeing their allocations slashed by up to 80% by their carriers, forcing them onto the spot market.

Xeneta’s XSI Asia-North Europe spot component jumped 25%, for an average ...