Global Recession and Impact on 2009/2010 Ocean Freight Rates

This is a follow up to our industry awareness message published in November 2009.

In the last news alert we highlighted that shipping line problems were of their own making as they fell over themselves in 2008 and early 2009 to attempt to gain market share by reducing their rates to unprecedented levels.  This was also prompted by EU directive that conferences and cartels were deemed to be illegal and now all shipping lines have to work independently within the EEC.

The consequences being:-

               · fleets are being reduced

06 January 2010