Hutchison megadeal reveals dark side of container shipping
What money cannot buy
Freight forwarders and shippers have responded to CMA CGM’s pledge to stop spot rate increases until 1 February with a raised level of cynicism.
The carrier announced yesterday it would suspend spot rate increases for all its services and those of subsidiaries, including CNC, Containerships, Mercosul, ANL and APL.
“Although these market-driven rate increases are expected to continue in the coming months, the group has decided to put any further increases in spot freight rates on hold for all services operated under ...
Comment on this article
Lori Fellmer
September 10, 2021 at 3:48 pmBravo.
gunther ginckels
September 11, 2021 at 7:18 amShameless. I would also like to freeze my rates and tariffs at a level 5 times higher than in 2020 delivering exorbitant profits. They cannot switch on or off the market mechanism of supply & demand at their convenience. Or do they fear that spot rates will drop ? Meantime less than 60% of their 20.000 TEU ships keep their schedules, containers are piling-up on the container yards in the USA, Europe and Asia, carriers lost all control over their equipment flows and ships are anchored waiting for berths in almost all ports on the Globe. And now they really expect us to say “Oh thank you for freezing spot rates at levels 5 times higher compared to 1 year ago”? Shameless extortion.