News / Shrinking contract rates pushing ocean carriers towards the spot market

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Declining long-term contract rates on major tradelanes may be a concern for ocean carriers, but the bullish short-term market is proving the “silver lining” that could shift their focus towards the spot market.

Indeed, some carriers The Loadstar spoke to recently suggested the future of large-scale annual volume contracts may be limited to a ‘new normal’ of rolling three-month deals, renegotiated in the light of increasingly volatile market changes.

Oslo-based Xeneta’s XSI contract rate index fell a further 1.8% in June, after a 1.2% ...