International freight rates remain depressed, says Freightos

One week into peak shipping season, international freight rates have remained flat showing unseasonably lax growth, according to Freightos, the online freight marketplace.

China – Europe container rates this week were up two per cent on a week ago at $1,385 per FEU, while Europe – US East Coast rates were up just one per cent at $1,625.

And rates are down year on year: China – Europe is two per cent lower than the same week a year ago; and Europe to US East Coast rates are down five per cent on last year.

Going forward, early October rates published on the Freightos marketplace indicate that rates will stay flat (or even decline in some cases) along these routes.