Rates in long-term container contracts up 90 percent

Freight rates in container carriers' long-term contracts have gone up 90 percent since last year, reports Xeneta.

Photo: Stephen B. Morton/AP/Ritzau Scanpix

Steadily increasing demand for container freight has pushed up the pricing in carriers' long-term contracts, and the trend appears unchanged.

Most recently, freight rates in container carriers' long-term contracts have gone up 3.2 percent in September, and the price of shipping a container via ocean freight as part of a long-term contract has thus skyrocketed by 91.5 percent from the same period in 2020, writes benchmarking platform Xeneta.

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