Major shippers eye better deals after sharp falls in the spot market

Container shippers are looking to renegotiate long-term contracts on the back of falling spot markets.

The shift comes as long-term container freight rates appear to have peaked amid sliding short-term spot markets.

Spot rates from Asia to the US West Coast dropped 6% to $6,593 per 40-ft equivalent unit (feu) in the week to 27 July, according to the Freightos Baltic Index (FBX).

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