Container shipping rates across the Caspian Sea stabilized in October after rising since the beginning of the year. Earlier increases were partly driven by concerns that instability in the Middle East could disrupt container shipments from China to Europe along alternative maritime routes, pricing agency Argus reported.
According to the report, shipping a 40-foot high-cube container (40HC) from Xi’an, China, to Azerbaijan’s Port of Alat cost $6,750-$7,200 in October. The rate range remained unchanged from September.
Rates for shipping containers from Xi’an to Türkiye’s Ambarlı and Mersin ports via the Absheron Peninsula and Alat also remained unchanged during the month, ranging from $7,200 to $8,000 per container.
According to the report, Kazakhstan, Azerbaijan and Georgia agreed in September and October to simplify border-crossing procedures for containerized cargo and standardize several operations. Market participants noted these measures could help accelerate freight transportation along the Trans-Caspian route.
According to freight forwarders, the number of empty containers in Kazakhstan, Azerbaijan and Georgia increased to 3,700-4,000 units by the end of October, up from 3,500-3,700 in September. Market participants attributed the increase to the seasonal rise in freight volumes during the autumn.
