News / Ocean carriers under pressure target long-term contracts in febrile market

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Time and tides wait for no-one and, so it seems, after the flood comes the ebb tide.

Shipping lines seeking renewal of contracts with customers are looking to lock shippers into long-term deals while the fevered market continues to rage.

However, some shippers are questioning the logic, as 2021 comes to an end, even with rates riding high, full ships, a capacity restriction imposed through congestion at major destination ports and a lack of equipment further restricting trade. Markets, it seems, have ...