Carriers hold their breath before 2014 contracts

With spot rates at an all-time low on the major Asia-Europe routes, container carriers are in sore need of rate increases at the moment, according to Drewry.

Photo: Maersk Line

Container carriers’ success with the anticipated, significant rate increases from November 1st has rarely been as important as it is right now, when carriers are set to renegotiate contracts for 2014 with their clients.

Container shipping costs on the main East-West headhaul trades have been in free-fall since a brief peak season in September. By the third week of October, spot rates paid by forwarders to ocean carriers on the trade from Shanghai to Rotterdam had slumped by over 56%, according to the World Container Index assessed by Drewry.

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