Container shipping rates along the Trans-Caspian International Transport Route (TITR) declined again in May compared to April, with carriers expecting a further average decrease of around 6% in June, the price agency Argus reported on Thursday.

The decline in rates marks the third consecutive month of reductions, driven by the restoration of stable China–Europe supply chains via the alternative Red Sea route. This has intensified competition between routes and put downward pressure on prices.

“In the face of growing competition, carriers are being forced to offer lower prices for container shipments along the combined China–Europe route via the Caspian,” logistics company representatives commented.

The reduced intensity of container traffic is having a positive effect on train speeds along the route, industry sources report.