News / More ocean rate gloom as analyst warns of further 'severe downturn'

Money bag with up and down arrows. A sharp change in prices. Destabilization of stock markets. Speculation, speculators. Monopolization of the market and interruptions in the supply of goods, services

06/10/2023

Asia-North Europe carriers took advantage of the Chinese national holiday this week to announce new headhaul FAK rates, effective from 1 November, which are double the level currently on offer via the spot market.

Hapag-Lloyd led the way on Monday raising its Asia-North Europe 40ft FAK rate to $1,750, followed by CMA CGM on Wednesday upping its FAK rate to $1,800 per 40ft.

Despite these announcements and the lack of activity in the Chinese forwarding market this week, Asia-Europe spot rates continued ...

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Marc Greenberg
October 06, 2023 at 2:13 pm
Simply put, and I have been saying this for years….Carriers need to change their behavior and not allow rates to go below their costs – no matter what! The current behavior is simply not sustainable. With new capacity continuing to stream out if the behavior does’nt change we will be looking for the next Hanjin debacle.

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