Freight rates for boxships holding firm as lines cut capacity

Container freight rates are holding firm as carriers continue to suspend services to meet lower demand.

Rates from China to the US West Coast were $1,567 per 40-ft equivalent unit (feu) on 17 April, some $256 higher than on the same day last year, according to the Freightos Baltic Index (FBX).

Rates of $1,422 per feu on the China to north Europe trade are only $40 lower than a year earlier.