PRESS ROOM

The Loadstar website ended last week with an interesting article that stated that there was more evidence in container port freight markets that peak prices on the main east-west deep sea trades have passed.

This was of great interest for the U-Freight Group with our string presence in the international container shipping market, including LCL and FCL import and export operations around the world, as the article also stated that all three major indices recorded single-digit declines on the back of lower utilisation of ships loading in Asia.

It added that the most significant drops were seen on the transpacific Asia-North America route, where Drewry’s World Container Index (WCI) Shanghai-Los Angeles declined 5% week on week, to yesterday’s level of USD6,934 per 40ft, while Xeneta’s transpacific XSI saw a 6% drop, to USD7,322 per 40ft, and the Freightos FBX dropped 4%, to USD7,738 per 40ft, with pricing on the Asia-North Europe route either flat or seeing slight declines.

The article quoted sources saying that space over the past fortnight had become easier to procure, suggesting that either demand has begun to wane, or that the large-scale capacity additions since the beginning of the year are finally beginning to make their presence felt.

The Loadstar article, which states that spot freight rate declines bring to an end more than three months of consecutive spot rate increases, can be read in full at the following link:

https://theloadstar.com/container-spot-rates-have-peaked-as-all-major-trades-see-falling-prices/

For more information about our ocean freight forwarding and logistics services, please visit the relevant pages of this website, or contact your local office, which can be seen here: https://www.ufreight.com/en/location