SeaIntel: Container contract rates to improve in third quarter

Contract rates on routes between Asia and Europe will improve in the third quarter compared to the level they have had in the second quarter, SeaIntel writes in its latest analysis which is based on a model comparing the development of the spot rates with that of the contract rates.

Photo: Maersk Line

The Asia-Europe index on contract rates on routes between Asia and Europe will rise during the third quarter compared to the situation in the second quarter, SeaIntel writes. The prediction is based on a model comparing the development in the contract and spot rate indices.

The model was developed last year and showed a clear correlation between the developments in the spot market as seen in Shanghai Containerised Freight Index and the contract rate index published by Container Trade Statistics on the route between Asia and Europe. Now, SeaIntel has revisited the model and has found that the model may still be used to predict the contract rate development.

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