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shipping MFC

Desperate shippers swallow contract rates at double 2020 Levels -

Early indications from the annual contract negotiations being closed between beneficial cargo owners and carriers point to shippers paying up to three times as much as last year in principal trade lanes.

Unsurprisingly - given the levels of congestion in all major trade lanes - shippers are sucking up heavy rate increases across the board in a bid to secure leverage in the frenzied scramble for capacity.