News / Ocean carriers are driving the rates race to the bottom – 'they're all at it'

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Carriers are themselves driving the rates ’race to the bottom’ they warned would lead to a “dire situation” in 2024 – Maersk singled out as one of the worst offenders.

Announcing the group’s third-quarter flop last week, the Danish carrier’s CEO, Vincent Clerc, told investors that without an uptick on the spot market in the final three months, the coming year would prove difficult for ocean shipping.

His comments, though, received sharp shrift from the wider supply chain, with Rhenus’s head of ...