Europe to Asia reefer rates slide
Freight rates on the Europe to Asia trades have begun to follow the wider container market down after a period of resistance. According to a market update from freight rate benchmarking firm Xeneta, spot and log-term freight rates are beginning to fall after a sustained drop in volumes.
Leading fronthaul reefer route spot rates now sit at $4,240 per feu as of January 23, after holding above $5,000 per reefer for almost two years. Spot rates have dipped below contract rates for the first time since 2019, after a sharp fall in December, said Xeneta.
In comparison, long-term rates were just under $4,500, down from a September 2022 peak of $4,850 per feu.
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