As the eagle eyed amongst you may have noticed with the ingenious renaming of the subject line, the newsletter will now be published on a weekly basis rather than daily. This gives more scope to summarise the week's news and updates, particularly pertaining to what it means for freight rates between Asia and the UK, and on that note…

Rates

There are signs that the continued rise in long-term liner contract rates is finally losing steam after nearly 15 consecutive months. You can read more in the Loadstars' article below. Our take on the current situation is similar, though it’s clouded by the current lull in updates over the Chinese New Year break.

XSI® - C

Report a figure of $14,521 per 40’ container (FEU) dated 28/01/22 (up 0.42%)

FBX

Report a figure of $14,999 per 40’ container (FEU) dated 28/01/22 (up 3%)

I would say these are in line with what rates are being offered through prepaid options in China, though there are also some lower options available ($12K – $13k) though port pairings and equipment availability may be restricted.

News

Long-term rate increases losing momentum as carriers seek to lock-in BCOs - The Loadstar

There are signs that the exponential rise in long-term liner contract rates is losing steam after 14 consecutive months. Ocean and air freight rate benchmarking platform Xeneta’s XSI long-term contract rate index fell 3.6% this month, following a decline of 1.6% recorded in December. The XSI decline…

The LoadstarMike Wackett

Lunar New Year and Container Rates: Nothing Like We Have Witnessed Before

Lunar New Year in China is virtually canceled for the third year running as China’s Zero-Covid policy has now turned into Zero-Omicron policy.

9Artboard 1Patrik Berglund

The hidden life of a lorry driver: long hours, fear of robberies – and living for the weekend

The country would grind to a halt without hauliers such as Rob Piper. But do they get the respect they deserve? Our reporter joined him on the road to find out

The GuardianSirin Kale

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