News / Carriers are facing the 'quiet before the storm' for contract rates

© Mr.siwabud Veerapaisarn

A year ago, shippers were desperate to agree annual contract deals with ocean carriers  to secure their supply chains, and were prepared to do, and pay, ‘whatever it took’.

And carriers were holding ’beauty contests’ to determine the most attractive large-volume BCOs to be included in their exclusive customer portfolios.

But 12 months on, the container liner shipping market has seen an 180-degree turn – world economies are being racked by huge hikes in energy costs, high inflation and spiralling interest rates, ...