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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.

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