Drewry: June’s freight rates 7 percent higher than last year

Average freight rates on east-west trade lanes in June came in at US$2.63 per kilogram, falling seven cents from the previous month. Despite the decrease between May and June, the price is 7 percent higher than during June 2017, when rates averaged $2.45.

A statement from Drewry mentioned the current sense of trepidation felt among trans-Pacific carriers, namely the impending “ramifications of the trade war between the U.S. and China, as well as tariffs on the E.U. and Canada,” which it said, “make it hard to predict the market.”

While the current state of the market is positive, it would be wise to wear a lens of caution, as the above-named factors have yet to go into full effect.