As if someone pulled a lever, the decline in container freight rates has gathered significant speed on major routes out of Asia. As this issue of HANSA goes to press, spot rates in the all-important Far East/Northern Europe trade are trending towards just 2,000-2,200 $/FEU, with some bullet rates said to be as low as 1,400-1,500 $/FEU. In other words: the market is back to where it was at the start of 2020 just before the pandemic hit. Depending on the benchmarks or indices you look at, spot rates for imports from Asia were more or less halved within four weeks. Losses week-on-week reached more than 20 % in the middle of November.
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