Returning to Suez and rates: the shipping contract conundrum
Shippers negotiating new contracts this year face a major rates dilemma as the maritime industry ...
By Sam Whelan
Shipping lines have “moved first” to lower spot rates and undercut forwarders, fearing a deteriorating market.
However, supply chain bottlenecks could yet “save the day” for carriers by propping up long-term contract rates.
According to Sunny Ho, executive director of the Hong Kong Shippers’ Council, forwarders have “refused to lower their rates”, even while shipping line rates have dropped as much as 30%.
He added: “Forwarders are resisting lowering rates but carriers have moved first – this year they are offering more competitive ...
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