Shipping lines have maintained high freight rates by controlling capacity as demand recovers with countries reopening.
The container shipping market grapples with the fallout from the Covid-19 pandemic and a looming global recession.
Fuel surcharges are back in the spotlight as container lines shore up spot freight rates to minimize financial losses from the pandemic.
China’s prolonged shutdown to contain the novel coronavirus outbreak is expected to have a major impact on global shipping in the first quarter.
Pressure is mounting for the global shipping industry as it prepares for higher fuel costs amid a weak economic outlook next year.
Discussions over spot freight rates commence this month with the IMO 2020 fuel regulation on the horizon.
The fourth quarter of 2019 will be as tumultuous a time for container shipping as any in recent memory.
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