Drewry: Shippers reap big declines in contract prices

The low price of fuel and the battle for cargo volumes on the major east-west routes have benefited shippers in 2015, as the rate level in the contracts slid downwards, reports Drewry.

Shippers were successful in negotiating prices further down in contracts with container shipowners in 2015. The prices in contracts for the major east-west trade routes declined further in the second half of 2015, as evident from new data published by Drewry, which gathers numbers from several multinational shippers.

On the routes between North Europe and North America as well as between Asia and Europe, contract rates fell by five percent measured from August to November of last year, Drewry writes, noting that this is yet another "sharp decline" on top of the drop in the third quarter.

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