CMA CGM and Hapag-Lloyd's spot rate freeze is a "sensible first move"

CMA CGM and Hapag-Lloyd's recent spot rate freeze has received mixed responses among logistics companies and shippers. There is need for a "significant normalization of the rates in a downward direction," Scan Global Logistics tells ShippingWatch.

Photo: PR-foto Scan Global Logistics

The recent spot rate freeze at CMA CGM and Hapag-Lloyd is a "sensible first move", says Scan Global Logistics. However, the current freight rates in the container market must be lowered for ocean freight to continue to make sense for a number of companies transporting goods, e.g. from China to Europe.

"On behalf of our customers, we definitely see the spot rate freeze in a positive light, as the rates have reached a level that isn't sustainable for a lot of companies," says Scan Global COO Mads Drejer to ShippingWatch.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Schedule reliability among container lines drops to historic low

August represented a historic low point for container carriers' schedule reliability. Only three out of ten container vessels – or 33.6 percent – managed to deliver goods on time, according to new figures from Sea-Intelligence. Reliability hasn't been lower in the ten years the analyst firm has monitored reliability.

Further reading

Related articles

Trial banner

Latest news

See all jobs