Long-term container freight rates Increased on all routes, but issues remain


Negotiations for long-term container contracts this year resulted in a significant increase in long-term freight rates for both imports and exports on all routes after renewal due to the tight supply-demand situation that has persisted since last year. On the other hand, congestion and capacity shortages in inland areas such as ports, railroads and warehouses are not expected to improve. There is also a serious increase in the load and cost of maintaining services in the field. The challenge is how to maintain and improve services as an important infrastructure that supports the supply chain.

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Ocean freight rates decreased via the West Coast of North America (-5.6% week-on-week), via the East Coast of North America (-3.5%), Europe (-7.0%), and Korea (-4.4%).

IATA said the air cargo market is stable despite demand falling for the sixth month in a row in August. The airline association’s latest data shows that demand in August fell by 8.3%, which was a slig