News / 'Slow season' and ocean network stabilisation easing pressure on rates

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While container spot rates on the Asia-Europe and Asia-North America trades continued to remain elevated, year on year, due to the Red Sea crisis, collapsing rates on other trades continue to dent carriers’ earnings outlook.

Cosco-owned OOCL today reported its operational update for first quarter, which showed that despite the nascent recovery in pricing since Yemen’s Houthi rebels began attacking commercial shipping, trades that remain unaffected by Cape of Good Hope diversions continue to show considerable weakness.

The Hong Kong-headquartered carrier said ...