ShippingWatch

SeaIntel: Maersk Line in showdown with breached contracts

The container industry as a whole, and not least Maersk Line, is suffering from customers breaching contracts and failing to deliver the agreed volumes, says Lars Jensen, CEO, SeaIntel.

Photo: Maersk Line

Maersk Line's plans to increase exposure to the short-term spot market on the major East-West trades, thus reducing the carrier's traditionally large coverage through long-term contracts of typically one year, looks like a showdown with the large group of shippers who continuously and during the contract periods demand renegotiations and reduced prices when the rates go down.

ShippingWatch recently reported that the liner carrier is working on a break from long-term contracts on the East-West trades, a move that was subsequently described by shipping analysts as surprising and a veritable U-turn.

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