News / Sliding freight rates: a blip or harbinger of weaker demand?

Container spot rates are falling below long-term contract rates and shippers will look to reopen negotiations with carriers if short-term rates further decline materially.

According to a customer survey conducted by freight rate benchmarking firm Xeneta, 71% of respondents said they would seek to renegotiate long-term contracts if the market changed significantly.

More worryingly for ocean carriers, 11% said they would be prepared to breach their contract and look for better deals and just 18% of respondents said they would continue with ...