Freight rate benchmarking platform Xeneta has added its voice to the view that prices in the liner trade are beginning to decrease because of slowing demand.
This after Alan Murphy, CEO of maritime consultancy Sea-Intelligence, said over a week ago that average vessel utilisation on the major head-haul trades was below the threshold that had fuelled the record rate peaks over the past year and a half (Read this for context: https://tinyurl.com/4jy2sed6P).
Xeneta market analyst Emily Strausbell says despite a slew of rises in long-term contracted ocean freight rates across key global trade corridors, month-on-month growth is starting to slow – and spot rates continue to weaken – suggesting prices may have peaked.
Read more of what Strausbell has to say in our latest edition of Freight Features: https://tinyurl.com/uadjm9k8
