Analysis : 'Shippers are clearly not happy' with freight rates - India Shipping News

While spot freight rates have been rising, retailers may be able to secure cheaper rates next year. Retailers like TJX, Ross Stores, and Target have reported declines in ocean freight rates. Industry players are advised to negotiate carefully with ocean carriers as overcapacity in the container shipping sector may lead to softer rates in the medium term. Port of Los Angeles Executive Director Gene Seroka believes that the current supply-demand curve is in favor of cargo owners. Contract rates continue to decline, while spot rates have rebounded due to external factors such as port labor issues and capacity restrictions.

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