More blanked sailings: 'Carriers will not sit on their hands while rates collapse'
Despite large parts of the Chinese workforce continuing to enjoy the new year holiday, there ...
© Pavel Biryukov |
By Mike Wackett
Ocean carrier voyage results could soon start appearing in red ink as freight rates flirt with breakeven levels on major east-west tradelanes.
Although the container spot rate crash appears to have bottomed-out in the past few weeks, annual contract rates are also now in sharp decline.
According to Drewry’s latest Container Insight report, carriers have “lost control of the container market” by failing to manage capacity and will “act on capacity only when they are forced to do so by heavy losses”.
The ...
Comment on this article