Reported 7 months ago
The stock prices of the three container shipping giants tanked for two consecutive days due to the UN passing a ceasefire plan for Israel and Palestine. Industry experts reveal that the current market is extremely tight, with only 'diamond tier' guaranteed cabin space available for purchase on routes from Southeast Asian countries like Thailand to the US. Despite the recent drop in stock prices, the market has calmed down on June 12, indicating that the container industry is still facing high demand leading to inflated prices and long lead times. Companies like Maersk and MSC have introduced a premium 'diamond tier' pricing for guaranteed cabin space to meet the market needs, with experts predicting high prices to continue until the end of October.
Source: YAHOO