There’s a ‘meltdown of container shipping market’ coming as cargo piles up

The “stratospheric” freight rates and shipping lines’ huge Q2 profits have been slammed by cargo owners, and a new report claims the carrier alliances are “suppressing” cargo.
According to a market review by MDS Transmodal and the Global Shippers Forum (GSF), container traffic grew 4% in Q2, up 22% year on year, returning close to pre-Covid levels of growth.
Carriers were “effectively full”, at 90% utilisation on most tradelanes, MDS said, noting …

The post There’s a ‘meltdown of container shipping market’ coming as cargo piles up appeared first on The Loadstar.

Source: The Loadstar

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