Logistik

Xeneta real-time container freight rates update: week 10

.
Reefer spot rates soon back to pre-pandemic levels as dry premium dissolves
The latest ocean freight rates data from Xeneta suggests an increasing “normalization” of the reefer market, with spot rates from the Far East to Northern Europe now back to pre-pandemic levels. This means short-term reefer rates on the trade have collapsed from a high of almost USD 16 000 per FEU in January 2022 down to around USD 2 300 per FEU today.

Market distortion

“There’s a range of interesting developments on this trade which speak volumes about wider macroeconomic factors,” comments Peter Sand, Chief Analyst at Oslo-based Xeneta.

Sand explains: “The COVID years created a new reality for the ocean freight market, with strained supply chains and high demand distorting established patterns. As a result we saw a rush for dry units pushing up prices, to the extent that dry containers commanded a premium over reefers of USD 3 600 per FEU during June 2021. This was the peak, but the premium became a market feature from pretty much late 2020 through to the middle of 2022.”

Sliding away

However, after July 2022, Sand notes, Xeneta’s data shows a gradual ‘normalization’ of the dry/reefer relationship, with reefer prices edging back in front. Reefers have since commanded an average premium of USD 493 per FEU.

“What we’ve seen is both dry and reefer rates sliding consistently since summer of last year, as congestion eases, demand drops, and carriers tailor their networks to adjust to another new reality,” he says. “Reefer rates have dipped back below their dry counterparts once or twice in that period, but not since November 2022.

“With dry spot rates seemingly still trending downwards, as carriers scramble for cargoes to reach profitable filling factor levels, the spread now looks to be opening up. By early March reefers were commanding almost USD 1 000 per FEU more on the spot market. Those rates are now marginally above, but very close to, pre-pandemic levels.”

Blank balance
Sand adds that the shortage of reefer equipment that pushed prices to record levels “is no more” and notes that “for European exporters of refrigerated goods, this return to normal is welcomed.”

However, the sheer volume of blank sailings – around 30% on this major global trade route – is impacting upon plans.

“The return trip to the Far East is a fronthaul for reefers,” he concludes, “so if the ships don’t show up at all the exporters obviously face a challenge!”

Über die Xeneta GmbH

Xeneta is the leading ocean and air freight rate benchmarking and market intelligence platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping stakeholders the data they need to understand current and historical market behavior – reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of over 300 million contracted container and air freight rates and covers over 160,000 global ocean trade routes and over 40,000 airport-airport connections. Xeneta is a privately held company with headquarters in Oslo, Norway and regional offices in New York and Hamburg. To learn more, please visit www.xeneta.com

Firmenkontakt und Herausgeber der Meldung:

Xeneta GmbH
Schauenburgerstr. 10
20253 Hamburg
Telefon: +49 (40) 76796418
http://www.xeneta.com/

Ansprechpartner:
Katherine Barrios
Telefon: +47 (95) 1464-14
E-Mail: press@xeneta.com
Für die oben stehende Pressemitteilung ist allein der jeweils angegebene Herausgeber (siehe Firmenkontakt oben) verantwortlich. Dieser ist in der Regel auch Urheber des Pressetextes, sowie der angehängten Bild-, Ton-, Video-, Medien- und Informationsmaterialien. Die United News Network GmbH übernimmt keine Haftung für die Korrektheit oder Vollständigkeit der dargestellten Meldung. Auch bei Übertragungsfehlern oder anderen Störungen haftet sie nur im Fall von Vorsatz oder grober Fahrlässigkeit. Die Nutzung von hier archivierten Informationen zur Eigeninformation und redaktionellen Weiterverarbeitung ist in der Regel kostenfrei. Bitte klären Sie vor einer Weiterverwendung urheberrechtliche Fragen mit dem angegebenen Herausgeber. Eine systematische Speicherung dieser Daten sowie die Verwendung auch von Teilen dieses Datenbankwerks sind nur mit schriftlicher Genehmigung durch die United News Network GmbH gestattet.

counterpixel