{"id":6034,"date":"2022-11-30T14:11:55","date_gmt":"2022-11-30T14:11:55","guid":{"rendered":"https:\/\/axxessintl.com\/?p=6034"},"modified":"2022-11-30T14:11:55","modified_gmt":"2022-11-30T14:11:55","slug":"plunging-spot-rates-drag-down-container-shipping-contract-rates","status":"publish","type":"post","link":"https:\/\/axxessintl.com\/en\/plunging-spot-rates-drag-down-container-shipping-contract-rates\/","title":{"rendered":"Plunging Spot Rates Drag Down Container Shipping Contract Rates"},"content":{"rendered":"

Shipping lines are still posting billion-dollar quarters despite a precipitous plunge in spot rates, courtesy of high-priced annual contracts signed by cargo shippers at the peak of the boom.<\/p>\n

But the reprieve is only temporary. Record rates on existing annual deals are being renegotiated lower mid-contract. Many shippers are not delivering previously agreed-upon contract volumes. And the next round of annual contract negotiations is looming, promising a big step down in rates and volumes for 2023.<\/p>\n

To get the latest on the deteriorating ocean freight market, read an interview with Patrik Berglund, CEO of Xeneta, a Norway-based company that tracks both short- and long-term container shipping rates.<\/p>\n

Read more in an article from FreightWaves<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shipping lines are still posting billion-dollar quarters despite a precipitous plunge in spot rates, courtesy of high-priced annual contracts signed by cargo shippers at the peak of the boom.<\/p>\n","protected":false},"author":5,"featured_media":3119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[587],"types-de-nouvelles":[],"class_list":["post-6034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-freight-news","tag-plunge-in-spot-rates"],"yoast_head":"\nPlunging Spot Rates Drag Down Container Shipping Contract Rates - Axxess International<\/title>\n<meta name=\"description\" content=\"Shipping lines are still posting billion-dollar quarters despite a precipitous plunge in spot rates, courtesy of high-priced annual contracts signed by\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/axxessintl.com\/en\/plunging-spot-rates-drag-down-container-shipping-contract-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plunging Spot Rates Drag Down Container Shipping Contract Rates - 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