Market stability for global ocean freight rates

It was revealed this week by Drewry analysis that increases in the first half of 2017 across most trade lanes have pushed average spot prices up by 36% above the ‘exceptionally poor’ levels last year.

This has provided a ‘huge correction’ after a disastrous 2016 for rates and with the recovery holding up well in the second quarter, the container shipping analyst believes the recovery should continue throughout the remainder of this year.

Commercial Director, Mel Pipe commented “From our perspective, the market needed stability with pricing and we have seen it this year”

Read the full article on Lloyds Loading List here