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Drewry: Shipowners' hopes for rate hike dwindling

Shipping companies on Asia-Europe have only a few options left in their efforts to increase the rates by the end of 2013. Customers have rejected the carriers' latest attempt at increasing the rates on September 1st, according to Drewry.

The container carriers' hopes of achieving significant rate increases before the end of 2013 seem to dwindle in spite of the traditional peak seasons. According to Martin Dixon, research manager at analysts Drewry, the national holiday season in China, which begins in late September, will probably only lead to a modest increase in demand, a development that leaves the carriers with only a few options for the rest of the year, he says.

This also indicates that the market has rejected the general rate increases of USD 445-500 carriers announced for September 1st.

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