Carriers in charge for business as box rates soar

摘要

Market conditions in the Far East/Europe trade have improved remarkably since box rates hit rock bottom in May/ June. Cargo volumes are still considerably down year on year, but tight capacity management by the container lines has sent freight rates soaring since summer. Base rates ex-Far East main ports to North Europe have been pushed up from a low of $300/ teu in mid-year to $700-800/teu at the end of November, Fairplay has established. Forwarders say prices are continuing to firm, although the peak shipping season is coming to an end, with carriers maintaining a tight rein on slot capacity.