Press Room

Box lines undercut forwarders' ocean rates in fear of soft market
11 Jul, 2022

Shipping lines have "moved first" to lower spot rates and undercut forwarders, fearing a deteriorating market.

However, supply chain bottlenecks could yet "save the day" for carriers by propping up long-term contract rates.

According to Sunny Ho, executive director of the Hong Kong Shippers' Council, forwarders have "refused to lower their rates", even while shipping line rates have dropped as much as 30%.

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