Reported about 1 year ago
Container shipping rates in the traditional peak season of July have shown signs of slowing down, with high freight rates on the Europe-America routes loosening up, leading the industry to anticipate a forthcoming battle for market share. The recent Suez Crisis is seen as the key factor driving the rate hikes, with some carriers like COSCO Shipping and Orient Overseas already announcing price reductions on certain routes to secure cargo. With the uncertainty surrounding the crisis and potential overcapacity challenges ahead, industry experts predict a correction in the high rates as the season progresses.
Source: YAHOO