THE ocean freight container shipping market is peaking, but shippers' challenges persist.Recent data from Xeneta showed that on July 15, the cost to ship a large container from the Far East to the US East Coast increased by 3.7 percent to $10,045. The rate to the US West Coast rose by 2.0 percent or to $8,045. These increases are lower than the hikes on July 1, at 22 percent and 12 percent, respectively.
She added, 'This suggests a growing level of available capacity in the market and indicates that shippers can once again start to play carriers off against each other — instead of feeling they need to pay whatever price they are offered to secure space.'The market's peak is also evident in the 'mid-high' data from Xeneta, showing flat rates at the high end for trades from the Far East to the US. This indicates carriers may need to reduce rates to compete for volumes.