Several container lines are turning to a surprising initiative to keep the extremely high spot rates down in the supercharged ocean freight market.
CMA CGM has just announced that the French shipping line will not raise its spot rates further, starting from September 9 until February 2022, and Hapag-Lloyd tells ShippingWatch that the German company has introduced a similar initiative in recent weeks.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.
More from ShippingWatch
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.