The container shipping market is in a state of flux and is harder to forecast than previously, but a Drewry survey of buyers of spot rates supports the view that spot rates will rise in July.

The maritime research and consulting services provider said over the past year, spot container freight rates have continuously dropped from the previous Covid-related crazy levels of 2021-mid 22 and appeared to have found a floor.

At the end of May, Drewry conducted a short survey, asking buyers of spot rates in the container shipping market what level of spot rates they are expecting in June (average for the month) and in July (average for the month). 

 [Photo: Drewry]

"The message from this survey is that buyers expect further reductions in spot rates in June, particularly on the transatlantic route, and either stability or moderate rate increases in July," Drewry said, referring to the result of the survey Drewry conducted.