November 8, 2021 – Container spot rates from Asia to Europe continued their downward trend last week from their September all-time highs, while transpacific base rates also lost significant ground.

The November 5 Ningbo Containerized Freight Index (NCFI) commentary reports that the market from Asia to North Europe and the Mediterranean is “sluggish.” “Some carriers have increased their efforts to solicit cargo, which led to a slight drop in spot freight rates,” it said.

While the decline is not dramatic, it appears some carriers are reducing, or waiving, premium fees that can easily add $3,000 or more to the final invoice. Indeed, one UK-based NVOCC said his carrier was prepared to “throw in” its equipment and space guarantee fees during November.