China’s Ministry of Transport (MOT) is encouraging Chinese exporters to sign long-term shipping contracts with liner operators as a hedge against the unprecedented spike in container freight rates.
Spokesperson Sun Wenjian (pictured) said the ministry viewed long-term container shipping contracts as a means of stabilising supply chains, which have been disrupted by Covid-19 outbreaks and typhoons in China and port congestion on the US west coast.
The MOT is folowing its Korean …
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Source: The Loadstar