News / Two-tier market emerging as ocean carriers win or lose on spot vs contracts

A two-tier market within the container shipping sector is opening up as spot rates in key trades collapse.

Carriers that focused on quoting spot rates are seeing their revenue fall, while those that preferred to negotiate long-term contracts are maintaining their income.

Shipbroker and consultancy Alphaliner said spot-focused carriers like HMM and Zim had seen their average revenue fall 9% and 7%, respectively, to $3,387 and $3,596/teu.

It explained: “As long as contract rates remain intact, the industry is likely to see a ...