Ocean Freight Rates Edge Up as Carriers Plan Extensive Blank Sailings to Manage Capacity
Container spot rates on major East-West shipping routes have seen a slight increase, according to the latest market indices. This marginal gain comes amid persistently weak demand, prompting ocean carriers to take aggressive action. To support the fragile rate recovery, carriers are planning a significant number of blank sailings, particularly after the Golden Week holiday in China. This strategy aims to manage vessel capacity and prevent a rate collapse similar to what occurred last year. However, the overall market outlook remains uncertain, as the rate stability is highly dependent on these artificial capacity reductions.
Official Source: https://theloadstar.com/spot-rates-edge-up-but-carriers-plan-more-blanked-sailings/
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