News / Year of the dog sees ocean carriers' rate hike bid become a bark not a bite

© Iryna Babenko

After the failure of Asia-North Europe carriers to push rates up before the start of the Chinese new year, shippers expect prices to fall immediately afterwards by as much as $200 per teu.

One UK-based shipper told The Loadstar this week he had been obliged to pay a premium before the CNY to guarantee shipment, but fully expected to get that back, “and more”, by the end of the month.

Analysts agree rates will come under pressure after the new year holiday. Drewry said: ...