Right now, Jan 2024, rates are rising due to ongoing geo-political and economical challenges - Red Sea attacks for example. London-based Drewry Shipping Consultants, reported that the global average shipping costs for a 40-foot container surged by 23% during the week ending January 18, 2024, reaching $3,777. This represents a twofold increase in the last month.

It provides insight into potential changes in shipping costs, allowing you to plan and budget accordingly. By staying informed on market trends, you can make more strategic decisions and mitigate any negative impacts.

A spot rate is the cost of shipping one shipment or container and is often restricted to one vessel. The costs reflect the current conditions of supply and demand within the market at that time. It will often have a short validity date as it is produced ‘on the spot’ for a shipment that is ready to move.

A fixed rate is a a quote that has a longer validity than a spot rate.  It is fixed for a period of time to offer the freight payer some stability. Unlike spot rates, the charges remain consistent throughout the contract's duration, regardless of market fluctuations or changes in demand.