Container freight rates seem unfazed by global issues and remain above par

Covid lockdowns in China, war in Ukraine and the threat of hyper-inflation are a toxic mix of unpredictability for liner trades, but they have so far not had an impact on container freight rates.

Indeed, container spot rates, although trending down, are broadly in line with normal seasonal falls and, moreover, ocean carriers are succeeding in driving-through significant contract rate increases.

However, in the short-term, the lack of availability of containers to load in China, due to intermodal restrictions, could lead to carriers discounting rates to capture as much cargo as possible and thus ensure ships do not sail light.

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