Before we dive into current market developments in 2023, this week’s blog looks back at the spot and long-term rates development on the three biggest fronthaul and backhaul trade lanes.
https://www.xeneta.com/blog/weekly-container-rate-update-week-01-2023
The three largest inter-regional fronthaul trades are all out of the Far East, one to each of the US coasts and one to North Europe. Across the three trades, the spot rate fell by an average of 79.3% from 31 December 2021 to 31 December 2022. The biggest drops in both the absolute value as well as a share of the total rate were seen on the Far East to North Europe trade (-84.1%).
The smallest percentage drop in spot rates came from the Far East to the US East Coast (-71.8%). However, due to the higher total rate, in dollar terms, it saw a smaller drop than rates into the US West Coast.
The three largest inter-regional backhaul trades witnessed mixed developments. The long-term rates on one of the three trades almost doubled over the course of 2022, while spot rates were reduced to half.
Read the entire blog at the link provided above.
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At Xeneta, we offer our customers exclusive access to the most accurate and unbiased ocean and air freight market data in many shapes and forms to help our customers stay one step ahead.
As this is the season to welcome the new year on a high note, we’re excited to share with you one of our exclusive ocean freight market analysis reports, the Xeneta Ocean Deep Dive (XODD).
Read more and download the report here: https://www.xeneta.com/blog/exclusive-report-xeneta-ocean-deep-dive
This report contains Xeneta’s exclusive insights for the full ocean freight pricing and supply transparency that will help you to improve your ocean freight procurement process dramatically. XODD is a quarterly report created by our ocean freight market experts for Xeneta customers only. It consists of a market commentary on the current state of the ocean freight market.
In this year’s final edition, our ocean market experts give an in-depth look at how trends like continuously falling short and long-term rates and slow global economic growth will impact the ocean freight market in 2023.
