OCEAN carriers are offering better terms on the long-term market as the spread between spot rates and contact rates hits fresh highs on some trades. In its Q3 Ocean Shipping Market report, Xeneta noted record spreads between spot and long-term rates on many trades, giving the example of a US$2,900 per FEU spread between the markets on the Asia-US West Coast trade. Xeneta’s XSI index hit a record high in August, suggesting falling spot rates are yet to be reflected in contract rate data, leaving...