Ocean freight spot rates to rally on uncertainty and disruptions

Ocean freight container shipping spot rates are set to exceed the level seen at the height of the Red Sea crisis when the latest round of increases hit the market on June 1, according to the latest data released by Xeneta. “The ocean freight container shipping market has seen rapid and dramatic increases during May and that is set to continue with further growth in spot rates," says Peter Sand, Chief Analyst, Xeneta. “On June 1, spot rates will reach a level we haven’t seen since 2022 when the Covid-19 pandemic was still wreaking chaos across ocean freight supply chains.