PUBLISHER: Container News (www.container-news.com)
Mainline operators have lost half of the gains seen during the early days of the Red Sea crisis, and this is placing the market in shippers’ favour during Transpacific contract negotiations, according to the Baltic Exchange’s latest report.
Writing in the report, Vespucci Maritime CEO Lars Jensen noted that the pace of rate declines on the Transpacific and Asia-Europe lanes is slowing down, for now indicating a possible flattening out over the next month at a level still considerably above the pre-crisis level, as well as above the pre-pandemic level.