Fall in container spot rates ‘much steeper,’ ‘less orderly’ than expected

photo of containers

Shipping liner executives predicted a continued drop in spot rates during their latest quarterly calls, while offering soothing assurances to investors that the fall would be gradual. Maersk CFO Patrick Jany said it would be a “progressive erosion,” not “a one-day drop.” Matson CEO Matt Cox emphasized rates were “adjusting slowly” in an “orderly marketplace” and not “falling off a cliff.”

The decline may indeed be fairly steady, as opposed to the sudden, violent swings seen in bulk commodity...

https://www.freightwaves.com/news/container-spot-rate-fall-much-steeper-and-less-orderly-than-expected

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