Some carriers sacrifice volumes to protect rates

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Given the continuing decline in freight rates on the major east-west container trades, shippers and forwarders could be forgiven for thinking that all shipping lines are hell-bent on gaining market share at the expense of freight rates. Not so, says Drewry Maritime Research’s container team, which has analysed the set of first quarter results, and concluded that some carriers are prepared to lose market share in a bid to maintain better rates.