Xeneta: Container shipping spot rates set to surpass Red Sea crisis peak
Ocean freight container shipping spot rates on several major trade routes are expected to exceed the level experienced at the height of the Red Sea crisis when the latest round of increases hit the market on June 1, according to latest data released by Xeneta.
Market average spot rates from the Far East to the US West Coast are set to reach US$5,170/feu, surpassing the peak during the Red Sea crisis of US$4820 seen on February 1, representing an increase of 57% during May and the highest spot rates on this trade for 640 days.
Spot rates are also set to exceed the Red Sea peak on the Far East to North Europe trade, reaching US$5280/feu compared to US$4,839 on February 16, an increase of 63% since April 29 and the highest rates have been for 596 days.
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