17 January 2024
Freight News

Shippers Face ‘Eye-Watering’ Rates and Rollovers as Carriers ‘Cherry-Pick’ Cargo

Shippers are scrambling to bring forward orders in a bid to mitigate the impact of the longer transit times from Asia to Europe as  vessels are re-routed around the Cape of Good Hope.

However, equipment in Asia is in extremely short supply, due to the delayed backhaul voyages, and container release is being restricted to large-volume ‘VIP contracts’ or shippers prepared to pay a hefty premium.

And even then, there is still no absolute guarantee that containers delivered to the quay will be shipped before the Chinese New Year on February 10, as carriers cherry-pick much-higher-paying spot cargo and roll over low-rated contracts.

Read more in an article from The Loadstar.

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