Pressure eases on Far East rates

ALAN PEAT A RECENT market report compiled by Safcor Panalpina and released to FTW reveals that upward pressure on freight rates between the Far East and SA has eased in the past few weeks. However, the report added, not to the extent reported to have taken place on the Far East to Europe route. “The drop appears to be largely seasonal and is likely to be reversed as volumes increase from mid-year,” it said. “Westbound traffic from the Far East to both Europe and SA consists largely of consumer goods, which experience their peak sales in advance of the Christmas season.” The report is also not discounting the possible re-imposition of a peak season surcharge from July or August onwards.