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Shippers should open talks on container contracts now, says Drewry
15 Oct, 2019

Shippers with sizeable volumes shipped under annual contracts should already be opening negotiations with their carriers for 2020, according to Drewry Supply Chain Advisers.

The reason is the continuing weakness of freight rates on the transpacific and Asia-North Europe container trades, said the analyst.

It noted that while container spot rates on the two largest deepsea trades had largely been in freefall this year – declining on average by 12% since the beginning of the year – that weakness had now spread to the contract market.

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