Shipping lines defy capacity increases to raise ratesPost by Cameron Davidson on 2nd February 2012 in Shipping Shipping companies are going against the tide by announcing increases in their rates, despite analysts claiming that supply is still outstripping demand. Shipping experts at Hong Kong-based broker CIMB say that, with the number of vessels currently on order the equivalent of one-third of the world's existing cargo shipping fleet, demand will continue to be able to be absorbed by the new additions being made to fleets. And they foresee that there will be little improvement until the pace of new deliveries starts to slow, in 2014. Long-distance carriers seem determined to raise rates, however, according to research carried out by Lloyd's List's specialist freight industry news service, ifw-net.com. Analysis it has carried out of the World Container Index showed that spot cargo rates had risen by as much as 50 per cent at the end of January compared with similar figures obtained just before last Christmas.
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