Spot rates for ‘dry standard’ FEUs decline on the world’s key global trading corridors - Xeneta
While spot rates for ‘dry standard’ FEUs are declining on the world’s key global trading corridors, the rates for equivalent reefers are bucking the trend on the North Europe to Far East route.
According to the latest market intelligence from Xeneta, which crowd sources real-time ocean freight rate data from leading shippers, the average 40’ HC reefer spot rate stood at a mighty USD 5 230 for the trade on 23 August, compared to dry standard FEUs at USD 980. At this point two years ago, September 2020, the reefer spot rate was USD 4 000.
As far as dry spot FEU rates on the North Europe to the Far East route are concerned, Sand highlights that they have been slipping away since June 2021, when they were close to USD 2 000.
Sand adds that there’s also a divide between dry standard spot rates on this route compared to the Mediterranean to Far East corridor. Here 40’ containers command a price of USD 1 800, a USD 810 premium.
In the first six months of the year, 30.2% of reefer volumes exported from North Europe went to the Far East. Reefer volumes on this trade have grown by 1.5% for the year to date in June, whereas the total reefer exports from North Europe have dropped by 1.3% for the same period.
Oslo-based Xeneta’s unique software platform compiles the latest ocean and air freight rate data aggregated worldwide to deliver powerful market insights. Participating companies include ABB, Electrolux, Continental, Unilever, Nestle, L’Oréal, Thyssenkrupp, Volvo Group and John Deere, amongst others.
Xeneta is the leading ocean and air freight rate benchmarking and market analytics 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 behaviour – 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 trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway and regional offices in New York and Hamburg.
