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Importing goods on Far East-Europe trade using the spot market now costs an additional $6.97mn/1,000 containers shipped

2024 has seen record-breaking numbers of new ships delivered but overcapacity previously expected has not materialised

Strike threats at U.S. East and Gulf Coast ports may see importers accelerate efforts to protect ocean supply chains

"Container vessels, which make up ~1/3 of arrivals, have experienced longer waiting time due to more vessels arriving."

Spot rates to reach level we haven’t seen since 2022 when Covid-19 pandemic was still wreaking chaos: Peter Sand, Xeneta

In contrast, the average ocean containerised spot rate on the India West Coast to North Europe lanes experienced a -9% decline in March.

With capacity stable, load factor from India to Europe climbed to 87% in week to March 24 - highest since April 2022

The average global cargo spot rate in February rose +2% from the previous month to $2.29 per kg.

An Italian national based in the US, Fabio will be splitting his time split between the North American and European markets for Xeneta.

Cargoes moving in the opposite direction on the backhauls have been hit harder by surcharges: Xeneta

Spot rates from Far East into the U.S. have softened since last round of GRIs were implemented at the start of February

"Shippers will be reluctant to commit to long-term rates during the height of disruption due to the Red Sea crisis."