Drewry survey: Buyers of spot rates expect increases in July

The container shipping market is in a state of flux and is harder to forecast than previously. But a Drewry survey of buyers of spot rates supports the view that spot rates will rise in July.

Over the past year, spot container freight rates have continuously dropped from the previous Covid-related crazy levels of 2021-mid 22 and appeared to have found a floor.

At the end of May, Drewry conducted a short survey, asking buyers of spot rates in the container shipping market what level of spot rates they are expecting in June (average for the month) and in July (average for the month).

We would like to thank the participants in this survey. The results of the survey were shared on LinkedIn via the new Drewry Freight Loop, our new, digital update for shippers, forwarders, carriers and other stakeholders in the global container shipping sector. You can watch the Drewry Freight Loop here.

The message from this survey is that buyers expect further reductions in spot rates in June, particularly on the transatlantic route, and either stability or moderate rate increases in July.

The next Drewry Freight Loop, scheduled for the first week of July, will discuss forthcoming changes ship capacity, cancelled sailings, lesser port congestion and the impact on shippers.
Source: Drewry