Ocean freight container shipping spot rates are set to exceed the level seen at the height of the Red Sea crisis when the latest round of increases hit the market in June 1, 2024, according to latest data released by Xeneta.
Xeneta’s chief analyst, Peter Sand, said: “The ocean freight container shipping market has seen rapid and dramatic increases during May, and that is set to continue with further growth in spot rates.”
He added: “On June 1, spot rates will reach a level we haven’t seen since 2022 when the Covid-19 pandemic was still wreaking chaos across ocean freight supply chains.”
hellenicshipping.com