The focal point for the container market in June remained the trailing impacts of post-Suez Canal congestion and since then, Yantian congestion – with spot prices rocketing up on all Asia outbound fronthaul routes. FBX01 saw a 29.31% increase from 31 May to 30 June, FBX11 up +12.72% in the same period as heavy congestion, strong demand and persistent GRI and surcharge announcements ramped prices up.

We’ve seen Q3 strengthen substantially, with firm offering interest for FBX11 Q321 as low as $5,500 in April this year, now up to $11,500 as of the latest FIS Container FFA report.

Looking forward beyond June, we see market sentiment stretching out the current bull market into August and potentially September on FBX01,03,11 and 13. We’ve seen Q3 strengthen substantially, with firm offering interest for FBX11 Q321 as low as $5,500 in April this year, now up to $11,500 as of the latest FIS Container FFA report. FBX11 and FBX13 forward prices have been moving largely in line with aggressive spot price movements, which continued to break records through June.

Focusing on the front of the curve, transpacific prices have also remained very supportive. FBX01 spot prices pushed up sharply at the start of June, reflecting sharp moves in the wider physical market. ‘Ocean premiums’ above and beyond have become a constant feature of lifted physical rates. However, forward prices have also consistently remained strong. 

 

About Peter Stallion, Head of Air and Containers, Freight Investor Services

Peter Stallion heads up the Air and Container Freight desks at FFA brokerage Freight Investor Services. He started his career in air freight chartering, and has a passion for emerging risk management markets and the logistics industry.



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