Carriers ‘In Panic Mode’ as Recession Bites, Offering ‘Crazy’ Ocean Rates (The Lodestar)

  • “The westbound market seems like it’s in panic,” a UK-based forwarding executive told The Loadstar this week. “I am getting approximately 10 emails a day from random agents offering very low rates. Today, I had $1,800 into Southampton, which is crazy; it seems to be panic,” he said. “There hasn’t been a Christmas rush on westbound and I put that down to the recession. As a country, we are not buying like we used to during the pandemic.” He said he was hearing that carriers were blanking sailings right up to Chinese New Year, which falls on 21 January, to drive up rates, but, he added, “personally, I don’t think that the volume is there”. READ MORE

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