Container shipping could be headed into a prolonged rate war as cash rich carriers battle falling demand and a sharp increase in supply.
Speaking at TOC Asia Alan Murphy, said the container market was returning to normality but asked if this was pre-pandemic level of normality in 2019, a relatively good year for container shipping if 2020 – 2022 is excluded, or a much worse scenario of five – six years ago.
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Reference: Marcus Hand, "Warning of the container shipping rate war ahead", Seatrade Maritime News, Nov 29th, 2022