ShippingWatch

Maersk reports significantly increased prices in key contract negotiations

Rates in Maersk's key contract negotiations are increasing big-time, says Maersk CEO Søren Skou after the shipping line has fixed close to 40 percent of its new contracts for the year. At DSV Panalpina, CFO points to frustrated customers who are left footing the bill.

Photo: PR / Maersk

Spot rates are not the only element that is soaring these days, as months of record-high rates mean that container lines such as Maersk hold unusually strong cards in the contract negotiations that are taking place right now.

This also means that long-term contracts with customers increase significantly, and this could prolong the recovery for shipping lines even if spot rates start to go down again.

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