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Long-contract container rates rise by 30% in a month

Rates on long-term contracts have increased by more than 150% this past year, writes Xeneta.

Photo: Marcus Brandt/AP/Ritzau Scanpix

Container rates on long-term contracts rose to a hitherto unseen degree in May. The surge was no less than 30.1% compared to the month before, and in a single year, this type of rate has increased by all of 150.6%, according to fresh numbers from analyst firm Xeneta.

”This is a staggering development,” says Xeneta Chief Executive Patrik Berglund in a press release, adding that the company last month predicted a surge by 11% and asked itself how such a high number was possible.

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