Key Points:

• Spot rates on major east-west trade routes have continued to fall this week, though the decline has slowed.
• Asia-North Europe trade saw the largest decrease, with rates dropping 9% week-over-week.   
• Long-term contract rates have shown more volatility than expected, especially on the Vietnam-Rotterdam trade.
• Transatlantic rates have remained firm due to the potential ILA strike.
• North Europe-South America east coast rates have collapsed to all-time lows.

Container freight rates have continued their downward trend this week, though the pace of decline has started to flatten. The Asia-North Europe trade experienced the most significant drop, with rates falling by 9% week-over-week. However, rates still remain significantly higher than last year’s levels.

While spot rates have been decreasing, long-term contract rates have shown more volatility. The Vietnam-Rotterdam trade, for example, has seen a significant increase in long-term contract rates since July, despite overall market softening.

The potential impact of the ILA strike in the United States has also influenced rates. Transatlantic rates from Europe to North America have remained firm as shippers race to clear cargo before the October 1 deadline.

In contrast, rates on the North Europe-South America east coast trade have plummeted to historic lows, with little difference between contract and spot rates.

Overall, the container freight market continues to evolve, with both spot and long-term rates experiencing fluctuations. Shippers and carriers need to closely monitor these trends to make informed decisions and adapt to changing market conditions.

——

With the motto “Global Standard – Local Insight”, 3A Logistics is continuously innovating to become a professional Vietnamese logistics brand, standardizing according to international standards and possessing deep insights into the Vietnamese logistics market.

The comprehensive services provided by 3A Logistics include:

• Sea Freight / Air Freight / Road Freight Transportation
• Warehousing & Distribution
• Customs Clearance Services
• Supply Chain Optimization
• Cross-border Transportation
• Additional Services: Cargo Insurance, Customs Procedures,…