Spot rates on transpacific surge after news of tariff time-out
Container freight spot rates shot up on the transpacific trades this week, with an immediate ...
Shipper and forwarders planning their container shipment bookings for the third quarter can expect a new wave of blanking announcements over the next two-to-three weeks.
While the second quarter of the year was characterised by a wave of cancelled sailings, there have, so far, been relatively few announced for the third quarter, according to eeSea data.
During July, there are some 235 headhaul sailings scheduled for the Asia-North Europe and transpacific trades, with just five blanked so far. In comparison, May saw 245 ...
Comment on this article
Gary Ferrulli
May 26, 2020 at 4:33 pmThe headline is like stating the date, it’s pretty obvious. If carriers lower their rates they will lose money. The $23. Billion is a very speculative amount, but reflects about what they lost in 2009. But their actions of the last 18-20 months of managing capacity to the markets has kept them from loosing huge amounts, some well managed companies making money, others (usually government affiliated) losing.
If that process remains in place, as an industry they are likely to make money. It comes down to management decision making.