Shipping lines still record multibillion-dollar quarters thanks to high-priced annual contracts that freighters signed during the boom, even as spot prices plummeted.

However, the grace period is temporary. Record rates on existing annual contracts are being renegotiated midway through the contract. Many carriers do not deliver previously agreed contract quantities. And with the next annual contract negotiations fast approaching, significant price and volume reductions are promised for 2023.

Facing global economic headwinds, the volume of containerized cargo movement continues to plummet, Peter Sand, Chief Analyst, Xeneta, summarizes: “It is clear that the carriers are no longer in charge, the shippers are.”

Read: Top 5 Trending Protein Trade News

If you enjoyed reading our FREE content, please support us by clicking this ad.

Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads.

Our content is free, please support us by disabling your ad-blocker and refresh the page.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock