The Dispatch – Issue #29

Rates

Spot rates continue to slide, with rates being pitched at under $5500 per FEU, and confidence that they will be below $5000 before the months out. Those who fixed long-term contracts at much higher are now pushing for reductions… things are getting back to normal then on the pricing front 😵‍💫

Below indices are always lagging on the actual achievable rates but provide a good record & visual of the situation,

XSI® - C

Report a figure of $7,639 per 40’ container (FEU) dated 13/09/22 (down 5.38% WoW)

FBX

Report a figure of $7,854 per 40’ container (FEU) dated 16/09/22 (down 14% WoW)

News

Shippers are standing up to the mighty carriers and fighting the fight for shippers everywhere when it comes to service failures and unjust D&D charges.

Another 8 day strike is looming at Felixstowe on overlapping with the one at Liverpool port. This 2nd wave of strikes is expected to hit hauliers particularly hard.

With as many as 3,000 deliveries a day to Felixstowe and upwards of 1,000 to Liverpool, questions are being asked over what the roughly 2,000 vehicles are set to do to offset the lost earnings over the strike period.

“With the ports closed, the view is hauliers will migrate to open ports, and we’d expect this influx of haulage capacity to suppress the market and drive rates down,” said the forwarder.

Tweets

Have a good weekend!