ShippingWatch

Carriers and customers put aside mutual "disloyalty" by opting for longer contracts

Contracts are meant to be broken – at least in shipping, where carriers and customers alike seek to confront the issue of widespread "disloyalty". Analyst confirms growing interest in binding contracts.

Photo: Mike Blake/REUTERS / X00030

As record-high container rates, large delays and a shortage of ship capacity continue to pressure the container market, the interest in long-term contracts is growing among both carriers and their customers.

In particular, global companies, which are dependent on transporting large quantities of goods on long routes, are interested in securing capacity on board ships through long-term contracts.

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