Annual contracts are being negotiated between shippers and container shipping lines keonhacai com truc tiep the trans-Pacific shipping route. ZIM warns if rates are too low, the carrier will stop shipping.
Spot container freight rates have plummeted from a record high, and ZIM's average freight rates fell 42% year-keonhacai com truc tiep-year to ,122/TEU. Spot rates are down from a year ago and Drewry's World Container Index (WCI) for the week ended March 9 stood at ,806 a foot, 80% lower than the same period last year.
keonhacai com truc tiep that basis, ZIM and other container shipping lines are currently negotiating contract prices keonhacai com truc tiep the trans-Pacific route from Asia to the US. In a recent discussion of ZIM's Q4 2022 results, Xavier Destriau, CFO and Executive Vice President of ZIM, described the current situation as "unique" like like the moving picture of a pendulum, in which the unusual market situation of the past two years has now moved “very strongly in the opposite direction”.
“I think both shippers and carriers know that there is a space in between that is a natural equilibrium that we should all be aiming for,” he said. However, if this does not happen and shippers insist keonhacai com truc tiep extremely low rates, there is a warning of a serious impact keonhacai com truc tiep service levels."
“Otherwise, the disruption could also affect shippers. If we do not receive a price that we believe is reasonable to continue shipping, we will stop shipping, and then if we stop shipping that may have a stronger impact keonhacai com truc tiep our ability to ship. secure the supply chain of their customers,” warned Destriau.
As the negotiations are going keonhacai com truc tiep now and ZIM has contracted most of its customers both in terms of quantity and price, and Destriau has given a positive picture of those negotiations.
“What we heard today from our customers is that they are very satisfied with ZIM and we have received a lot of positive feedback and comments about us being the first shipping line to launch the service. LNG [Fueled] keonhacai com truc tiep the Asia route to the US east coast. And that resonates very strongly with our customers,” he said.
“So now we hope that it translates into final negotiations keonhacai com truc tiep rates at a level that both shippers and we are happy with.”
ZIM is looking at a split ratio of about 50-50 between contract and spot commodities, but the final rate will depend keonhacai com truc tiep where negotiations end with customers. “If rates are not satisfactory to us, we may reconsider that percentage allocation and agree to more exposure to the spot market. We think the second half will be better than the first."
keonhacai com truc tiep the outcome of the negotiations, Destriau said: “It is still a few weeks before we finalize the negotiations keonhacai com truc tiep the freight contract whether we will end up above, below, close to the price. immediate delivery, it remains to be seen.”
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keonhacai com truc tiep February 13, President of USA's Donald Trump signed a new executive order keonhacai com truc tiep tariffs, marking a decisive step in reshaping U.S. trade policy. This order aims to increase import tariffs keonhacai com truc tiep trade partners with significant trade surpluses with the U.S., including Vietnam.
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keonhacai com truc tiep March 22, 2025, Glotrans Hanoi took part in the CMC CAREER FAIR 2025 – Internship and Employment Day – held at CMC University. This event presented a valuable opportunity for Glotrans Hanoi to connect with students seeking a professional internship environment, while also helping them gain deeper insights into the logistics industry and its career prospects.
