Pressures On Wan Hai To Reduce Contract Rates

Wan Hai has become the second liner operator to acknowledge requests from shippers to reduce contract rates in the wake of falling freight rates, says an article published in The Loadstar.

Renegotiating contract rates

Similar pressure was reportedly experienced by Yang Ming earlier this month.

Primarily an intra-Asia carrier, Taiwanese Wan Hai entered the transpacific trade in 2020 with US west coast sailings, followed by east coast services last year.

At the time, transpacific rates were at...

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