News / Shippers pushed towards spot rates as contract negotiations stall

Photo: © Pavlo Syvak

While container spot rates on the Asia-Europe and transpacific tradelanes appear to have reached a nadir, start dates for many new long-term contracts remains uncertain.

Indeed, with contract negotiations stalled and demand weak, shippers, BCOs and NVOCCs are switching a much higher percentage of their business to the spot market.

In fact, carriers are actively encouraging their contract customers to book cargo via spot, rather than lose them to cheaper competitors and have to buy them back later.

The Asia to North Europe ...