Golden Week Alert: Xeneta Reports Spot Rates on Trans-Pacific -2% While Far-East to N.Europe +2.4% WoW
Oct 02, 2020
OCEAN FREIGHT SPOT RATE ALERT Trans-Pacific Eastbound ocean freight spot rate is down WoW USD 70 per 40' while the Far East - North Europe main ports is up USD 50 per 40'. Westbound trans-Pacific spot rate is +USD 46 USD and N. Europe to Far East clocks in with a drop of USD 90.
"Xeneta sees early indications that carriers are not ready to break the psychological barrier on the trans-Pacific eastbound but upwards pressure remains on the European counterpart during Golden week," says Erik Devetak, Chief Product Officer at Xeneta.
Ocean Freight Contract Market on Rise
As the tendering/RFQ season begins, Xeneta also reports an increase in the contract market of more than 30% already in some of the major trade lanes. Get ready for the RFQ season and understand where the market stands and the outlook for 2021. Join our webinar on Oct 8th. Click below to sign up!