Caroz Market Update: Revised FAK rates announced

Each monthly update we will highlight one trending topic which has an effect on the global ocean freight market.

In December, rates rose super hard all at once due to the Red Sea situation. By mid-January, we were at the peak and they have been dropping ever since. But they are not dropping at the same pace everywhere. In addition, revised FAK rates have already been announced for April on the Asia-Europe route. Find out in this market update which tradelanes are and are not falling fast in terms of rates. We also talk about the Panama Canal and give you a brief update on the Red Sea situation!

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CAROZ’s eye opener:

The latest revisions in FAK rates show once again what a dynamic landscape container shipping is in. While transpacific rates are steadily going down, rates in Asia-Europe are only going down faster. As a result, carriers have less and less profit so they are coming up with revising FAK rates to keep their profit margins. There have been more attempts in the past to keep rates artificially higher which were all short-lived. We will see where this revising is going to end up.

Meanwhile, the Panama Canal’s conservation efforts amid drought present a complex dilemma. While easing vessel traffic limits is a relief for global trade, the consequences on water quality and supply highlight the interconnectedness of environmental and economic factors. This underscores the urgency for sustainable solutions and collaborative efforts in addressing climate change impacts on maritime infrastructure.

Additionally, the persistence of disruptions in the Red Sea due to geopolitical tensions poses further challenges. The increase in piracy around Somalia underscores the need for enhanced security measures and risk mitigation strategies in maritime operations.

Want to know more?

Each monthly update we will highlight the developments within the Ocean freight market including the following topics:

  • Trending topic: Revised FAK rates announced
  • Rail & Air | Asia – Europe
  • Space & rate developments
  • Port developments & congestion
  • Schedule reliability
  • TEU per operator
  • How to mitigate the risks

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