Container spot rates are up, but not enough to hike annual contract rates
- SCFI global index rose 7% this week, bringing it back to mid-September levels
- Most of the recent rebound occurred in mid-October; pace of gains has slowed
- Average spot rates in the Asia-Med trade are still 27% below average contract rates despite 10% rise from recent low, according to Xeneta
There’s still time to rescue the situation, but carriers look like they’re going into annual contract talks in Europe with a weak negotiating hand, particularly in the Mediterranean trade
