Capacity Concerns to Drive Transpacific Contract Negotiations

Shippers and carriers will enter next year’s transpacific contract negotiation season with capacity being a bigger concern than prices, as the experiences of this year influence contracts that will be signed for next year.

“The key question for the next contracting season will be securing capacity,” said Philip Damas, director of Drewry Supply Chain Advisors.

The events of this year, which had seen carriers respond to a perceived lack of demand with blanked sailings that had left shippers without space for their cargoes, would be the defining conditions for next year’s negotiations, he said.

Read more in an article from Lloyd’s Loading List.

Source: CIFFA (23.11.2020)

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