Let’s focus on the Antwerp-Santos lane: a significant North/South route for sea freight that is trending a noticeable week to week rate decline (-11%).
Traditionally, in this corridor the market is driven by the Automotive Industry, with stable and well sustained capacity. Almost every player in this market is competing for business.
This makes this corridor unique, compared to East/West routes.
Demand ex-Europe this time of year is usually on the lower side, and could explain this decreasing price trend. However, the seasonality factor is highlighted by potential changes in Automotive Supply Chain evolution. Eventually, as referenced above, the competition for market share could continue to put pressure on current rates.