August brought another increase in long-term container freight rates, but contracted rates look to be easing as spot rates fall.

Long term ocean box rates were up 150% on-year in May 2022, after a record monthly jump in prices.

Reefer rates between the US west coast and Far East rose by almost 60% in April, as typical year-long contracts expired and new ones were negotiated.

Freight revenue and containership charter day rates attained new records last year in spite of disruption on major trade lanes including port congestion and equipment imbalances, according to analysis by Clarkson Research.

With soaring rates over the last 12 months interest in container freight rates has never been higher and Xeneta is partnering with Compass to launch a new container freight index.

A drop in US-China box rates seen in the first week of October seems to have continued into November, according to freight forwarding tech company Shifl.

The number of containerships waiting at the ports of Los Angeles (LA) and Long Beach (LB) has hit 41 as freight rates continue to rise.

In a year that triple-digit percentage increases spot container freight rates have become the norm Drewry is forecasting lines’ could exceed annual profits of $100bn.

Container freight rates are continuing to rise to record levels due to ongoing disruption to global supply chains.

The ongoing severe shortage of containers that is driving up freight rates is due mainly to logistical issues, not fleet underinvestment, according to shipping analyst Drewry.