Benchmarking platform Xeneta has revealed a rise in long-term boxship rates on the back of increased US export and European import activity.

The Oslo-headquartered company said its database of more than 85m contracted freight rates indicates a month-on-month rise of 2.5% for February.

"Although relatively modest, the climb halts a decline that has effectively been on going since August 2018," it said.

Xeneta CEO Patrik Berglund added: “Against the backdrop of mixed financial results for the major carriers - with the ONE alliance all posting negative figures, while Maersk recorded solid profits (albeit with a disappointing growth forecast for 2019) - and on-going concerns about new tariffs in the China-US ‘trade war’, this upwards trend provides somewhat positive news for the container industry.