Ocean carriers are endeavouring to top up their ships from China with heavily discounted spot cargo as their contracted shippers underperform on minimum quantities.
However, it appears that if bookings still fall below around 60% vessel utilisation levels, carriers are cancelling voyages at the eleventh hour, declaring a blank sailing to the trade.
According to this week’s Ningbo Containerized Freight Index (NCFI) commentary, export markets have become “destabilised” due to carriers “underselling …
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