The annual contract season is down to the final stretch in the trans-Pacific shipping market. U.S. import costs, liner profitability and service reliability all hinge on where contract prices settle in the next few weeks.
The plot twist this year is that the prior round of annual contracts were signed at historically high levels and the timing of the current contract RFP season coincides with a period of still-sinking spot rates.
Import demand remains weak due to bloated inventories, with inbound...
https://www.freightwaves.com/news/crunch-time-for-trans-pacific-container-shipping-contract-talks