Long-term contracted ocean freight raters in the container market may have peaked, but remain 112% up on-year and 280% up on July 2019.

Data from container market intelligence outfit Xeneta showed a deceleration in the price rise of long-term container contracts and a continued weakening of spot rates, "suggesting prices may have peaked."

 “The carriers have enjoyed staggering rates rises, driven by factors such as strong demand, a lack of equipment, congestion and COVID uncertainty, for 17 of the last 19 months,” said Xeneta CEO Patrik Berglund. “July has seen yet more upticks across the board, but the signs are clear there is a ‘shift’ in sentiment as some fundamentals evolve.” 

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