Spot rates in Germany showed a peak during the Easter period and are likely to stay high

Market Monday - Week 15 - seasonal increase in Germany spot transport prices exceed contracted prices.

Easter usually marks the first substantial increase in spot rates within a calendar year, marking the end of Europe's low spot price season. This trend is also evident for Germany, as displayed in the graph below. The sharp increase in contracted prices at the start of the year and the less pronounced decreases in spot rates after December are largely due to toll increases. The red dotted line shows this difference in spot rates, comparing Easter prices of 2023 with this year’s values (+13,3%). 

Germany's domestic contracted and spot transport rates around 350 km

Source: Transporeon Market Insights, own illustration and evaluation

What can we expect in the coming weeks? 

We are likely to see spot rates stabilize around contracted rates levels after Easter, although at a still elevated level. Significant and sustainable decreases are unlikely as we approach weeks filled with numerous bank holidays. These holidays typically result in reduced capacities and higher spot rates. Contracted rates are likely to remain stable, with a tendency for slight increases due to diesel floater adjustments and a higher need for backup carriers during weeks of reduced capacity. This trend can also be expected in Europe, as it impacts many countries. 

Christian Dolderer
Lead Research Analyst