Shipping analyst: Container market is experiencing a "hard landing"
The pace of declines in rates on the container market’s Asia-Northern Europe routes has increased, the WCI index shows. Shipping analyst Lars Jensen describes this as a ”hard landing” for the market.
by marketwire and shippingwatch
Spot rates on the container market are continuing to plummet, and fell by 18 percent this week on the Shanghai-Rotterdam route – the largest drop over the past two months, reveals shipping analyst Lars Jensen, CEO and partner at Vespucci Maritime.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.