Anyone currently looking to ship containers from the Far East to Europe will have to dig deeper into their pockets. According to Xeneta, the average spot rate from the Far East to Northern Europe was $3,854 per FEU on June 15. One FEU corresponds to a 40-foot container.
Since the end of February, rates have increased by around 74 percent. This is no small fluctuation, but a significant price increase within a few months.
The bigger problem, however, is not just the price. According to Xeneta, shipping companies are already reporting full ships on various services through July. Even larger shippers with existing annual contracts are sometimes unable to load their containers onto the ship as planned.
In practice, this means: Containers are being postponed to later departures, bookings are being denied, or only accepted at significantly higher spot rates.
The offered capacity on the route to Northern Europe has only slightly increased compared to the pre-crisis period. The additional ship capacities are thus insufficient to meet current demand and schedule disruptions.
An important reason remains the uncertain situation in the Middle East. Longer routes, delays, and missing ships disrupt schedules. Additionally, shippers are proactively ordering early and prioritizing goods. This creates additional pressure on the available slots.
For us freight forwarders, this is a familiar picture: When space is tight, it is not just about the price. What matters is whether the booking is confirmed at all and whether the container actually travels.