Container rates fell for the first time after four consecutive weeks of gains, with Drewry’s World Container Index (WCI) falling 5% to 1,859 dollars per 40-foot container.
The correction comes at a particularly critical time for shipping, with Drewry warning that the supply-demand balance could weaken in the coming months as the Suez Canal fully reopens, leading to further rate cuts.
However, a renewed escalation of attacks on ships in key sea lanes could turn the tables, putting renewed upward pressure on freight rates.
However, the Houthis have announced that they are temporarily “freezing” their operations in the Red Sea – a campaign that has caused serious disruption to global maritime trade over the past two years.
However, market analysts are currently interpreting the decline as a normal market correction, after the temporary strengthening of previous weeks, as the loading of products for Black Friday and the holiday season is now complete and major retailers in the US and Europe have already filled their inventories, leading to a decrease in demand for freight transport and subsequent pressure on freight rates.
Spot prices for freight transport in the Pacific Ocean recorded a double-digit decrease this week, resulting in a 15% drop in the Shanghai-New York route to 3,254 dollars per 40-foot container and a 12% drop to 2,328 dollars to Los Angeles.
On the other hand, spot rates on the Shanghai-Genoa route rose 4% to 2,193 dollars per 40-foot container, while on the Shanghai-Rotterdam route they rose 3% to 2,028 dollars.
The difference in spot rate movements between the Pacific and Asia-Europe trades is due to a combination of supply and demand, carrier strategies and structural characteristics of the two markets.
At the same time, carriers on the Asia-Europe trade are attempting to further strengthen spot rates by introducing higher rates ranging between 3,000 and 3,650 dollars per 40-foot container, effective from November 15.
This is a coordinated effort to create an upward trend in freight rates before the start of the new annual contract negotiation period.
Για να εμφανίζονται περισσότερα άρθρα της Ναυτεμπορικής στις αναζητήσεις σας εύκολα και γρήγορα, πρέπει να προσθέσετε το site στις προτιμώμενες πηγές σας. Μπορείτε να το κάνετε πηγαίνοντας εδώ.
