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Industries We Serve
News
What’s happening in the world affects your business. We find out the latest news and updates and share it with you here and in our weekly industry update newsletter.
Container ships still renting for $160,000 a day despite import fears
When demand to transport cargo weakens, short-term rental rates decline for the ships that carry that cargo. When freight demand rises, lease rates rise. You can see this now in spot rates for supertankers moving crude oil from the Middle East and large bulkers moving iron ore to China (weak demand, low rates) and for product carriers moving diesel, gasoline and jet fuel (high demand, high spot rates). You can’t see it in container shipping, though. At least, not yet. The container freight market is awash in negative sentiment on import demand, yet short-term ship charter rates remain stratospherically high
07.04.2022
CMA CGM bows to Paris’s call for help, cuts import rates by $500
CMA CGM has bowed to pressure from the French government, announcing a rate cut yesterday. France’s finance minister, Bruno Le Maire, had demanded earlier in the week that CMA CGM, and other companies making big profits in the transport and energy sectors, ought to help out as the nation battles economic tough times.
07.04.2022
Containers: Eyeing the post-pandemic slowdown
At the beginning of 2022, the container shipping sector outlook was dominated by high demand, sky-rocketing freight rates and continued supply chain congestion, all of which looked set to send carrier profitability to new records. As the shipping sector prepares for the second half of the year — which will include its traditional peak season in the third quarter — that outlook has changed, although many elements remain the same. Freight rates, despite falling from their peaks earlier this year, remain high, and many customers have locked in long-term contracts at high rates to ensure capacity.
07.04.2022