News / Evergreen clients signing transpac contracts as Red Sea crisis props up rates

Taiwan carrier Evergreen said yesterday it believed the escalation of Israel-Iran tensions means the Red Sea crisis would continue well into Q2 and, as this is keeping freight rates up, customers had been quick to sign long-term transpacific shipping contracts.

GM Wu Kuang Hui said: “Contract negotiations are in full swing and we’re quite optimistic, as customers are eager for discussions, regardless of freight rate levels.

“At the start of the year, customers were taking their ...