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Long-term container contract rates to slide further in 2016

The long-term container contract rates look set for a further decline in 2016, notes benchmarker Xeneta in an update. Shippers are taking advantage of the downturn to secure favorable rates.

Photo: Georg Hammerstein/POLFOTO/ARKIV
BY

Next year's negotiated long-term container freight contracts are being signed at lower rates than in the past 12 months, and as such the slide in long-term container rates looks set to continue into 2016. This is evident from the contracts currently being loaded into Norwegian Xeneta's database, reports the company in an update on Tuesday.

Xeneta is a price comparison and market intelligence platform that enables shippers and other ocean freight stakeholders to compare prices on a wide range of services and route combinations.

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