Carriers disappointed as contract talks loom and rate hikes fail to stick
Container spot freight rates this week were virtually unchanged from last week, as planned mid-November ...
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By Sam Whelan
Weak trade demand and rampant competition between ocean carriers has led to unsustainable freight rates on some intra-Asia networks.
The decline has forced MCC Transport, Maersk Line’s intra-Asia specialist, to consolidate its network.
“We had to rationalise by closing two services and taking six ships out,” said Naresh Potty, MCC Transport’s chief commercial officer.
He added: “We are satisfied with this round of rationalisation, as we fortunately managed to improve our products and provide more direct port-pairs, which is important in intra-Asia trade.”
Mr ...
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