Xeneta analyst insight – Middle East war impact spreads to long term market

AI Summary

Xeneta Chief Analyst Peter Sand highlights that the Middle East war's disruption is increasingly affecting the long-term shipping contract market. Rates on routes from the Far East to the US West and East Coasts have surged over 40% since late February due to the prolonged conflict.

Peter Sand, Xeneta Chief Analyst: “The knock-on effect of almost half a year of disruption caused by war in the Middle East is now spreading into the long-term contract market. Average long-term rates from Far East to US West Coast and US East Coast are up 41% and 40% respectively since the end of February. ...