Disconnect: time-charters and the freight market
Time to jump off?
© Mopic |
By Mike Wackett
Ocean carriers are racking up massive profits from the unrelenting spiral of rate hikes and surcharges across virtually all liner services.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a further 81-point gain across its tradelane components and a new record reading of 1,938.32, a colossal 150% higher than a year ago.
Spot rates to North Europe increased by 9%, to $1,644 per teu – 134% higher than 12 months ago.
However, shippers told The Loadstar this week carriers were quoting rates, via e-mail ...
Comment on this article
ROY SAM
November 23, 2020 at 9:11 amThe carriers are exploiting a poor situation to suit them, there has to be a regulated body monitoring world-wide freight rates , as far as I am concerned you have to treat a freight rate as a commodity , fluctuating all the time due to market demands. I am sure if OPEC and the like where increasing prices all the time , they would be taken to task. !!
Ian Forrest
November 24, 2020 at 9:33 amThere greed exemplifies the need for manufacturers to return to the UK,carriers need to be taught a lesson in economics,shooting yourself in the foot hurts
Chris Osborne
November 24, 2020 at 2:20 pmPretty sure a few years ago the lines were all in trouble and most forwarders had no problem squeezing the lines then? Forwarders will always squeeze the market when they can, they have an obligation to their customers get the best rates – but crying foul when the shoe’s on the other foot makes me think that the forwarders aren’t entirely innocent victims here?