Container spot freight rates on the Asia–Europe and transpacific trades continued to decline as pre–Chinese New Year demand weakened. However, the pace of decline slowed as carriers began withdrawing capacity. Despite relatively firm long-term contract rates in January, spot markets are softening due to excess capacity, with further rate reductions expected after the holiday period.
In air cargo, Asia-Pacific demand is easing as February approaches, with limited pre-CNY uplift. Pricing data from shows a slight drop in global air freight rates, with mixed trends across lanes.
Freightos FAX reports a slight increase in global indices. Overall, long-haul demand remains soft with easing rates into February.