Freightos Weekly Update: Ocean rates climbing, with more increases expected soon

AI Summary

Ocean freight rates are rising partly due to higher oil prices resulting from recent Israeli and Iranian military exchanges, though the brief conflict did not significantly alter broader market conditions. Elevated fuel costs are exerting upward pressure on freight and logistics prices.

Israel and Iran’s brief exchange of military strikes – a first since early April – that concluded by Monday did not materially change the status quo in terms of the Iran war impact for the broader ocean freight and logistics markets: higher oil prices putting some upward pressure on freight rates via elevated fuel costs. […] The post Freightos Weekly Update: Ocean rates climbing, with more increases expected soon appeared first on Container News.