Containers spot rates from Asia to the Middle East exceeded the US$1,000-per-TEU mark in December 2019, for the first time since November 2014, according to Japan International Freight Forwarders Association (JIFFA).
In 2018, however, the spot rates from Asia tot he Middle East increased some 58% from the previous year to US$730 per TEU on average. In December, in particular, the rates peaked at US$1,027 per TEU.
At a time when tension has still been running high in the region since the beginning of 2020, some container shipping lines are striving to impose war risk surcharges (WRS). They are, therefore, expected to remain at high levels for the time being.
Spot freight rates from Asia to the Middle East were bearish in 2018, averaging US$461 per TEU, according to the Shanghai Shipping Exchange (SSE), which publishes the Shanghai Containerized Freight Index (SCFI).
