The spread between short and long-term ocean freight rates has soared, leaving the market in a standoff
Publishing timestamp: 2024-03-19 13:42:53
Summary
The spread between spot ocean freight rates and long-term contract market is at its highest since September 2021, causing uncertainty for shippers and carriers. The market is experiencing a mismatch between buyer and seller price expectations, with disruptions expected to continue throughout the year. The impact of Red Sea diversions and imbalanced trade environments are adding to issues in the container market.
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Keywords: business news, world economy, economy, shipping, transportation and shipping, breaking news: economy, gesher i acquisition corp, environment, panama,