Container Shipping Consolidates Recovery in Demand, Spot Rates, and Chartering
Container shipping is experiencing a period of robust recovery, marking a positive shift after two challenging years. According to the latest report from Marítime Strategies International (MSI) Horizon Monthly Containership, demand is on the rise, along with spot rates and charter rates.
The report highlights a notable year-on-year growth on all container shipping routes during the first quarter of 2024. Particularly, a strong rebound in US imports from the Far East is noted, surpassing expectations with a 30.4% increase in February and a 23.6% increase in the first two months of the year.
In Europe, although there is a solid start to the year with year-on-year growth in imports from the Far East, a slowdown is expected after the first quarter due to more moderate growth projections in GDP and consumer spending.
Furthermore, secondary routes also show positive performance, with year-on-year growth rates between 6% and 30% in the first months of 2024, indicating healthy growth in various regions.
Regarding spot rates and charter rates, stabilization is observed during March, with small fluctuations since mid-month. Nevertheless, general increases in FAK rates were introduced in April to prevent a continuous decline in rates.
The ship chartering market also shows stabilization in rates, which are at significantly higher levels than before the pandemic.
In summary, the container shipping market is experiencing a solid recovery and rate stabilization, heralding a promising year for this industry in 2024. Companies specializing in foreign trade should be attentive to these trends to seize the opportunities presented in this evolving market.
To read the full article: https://www.mundomaritimo.cl/noticias/transporte-maritimo-de-contenedores-consolida-recuperacion-de-la-demanda-de-tarifas-spot-y-de-fletamento