- red-hot container markets adopt unorthodox measures
- the market has been shaped by measures such as carriers’ premium services and surcharges
As exorbitantly high base rates are no longer the ticket to getting a box on a ship or a guarantee of timely delivery, the market has been shaped by a clutch of measures says an article on SP Global.
‘Red-hot’ container markets
Container shipping markets have been tagged as red hot because base box rates have more than quintupled since the market began its steep hike north in May 2020 amid the pandemic’s operational and logistical constraints.
High base rates
But because exorbitantly high base rates are no longer the ticket to getting a box on a ship or a guarantee of timely delivery, the market has been shaped by measures such as carriers’ premium services and surcharges that can more than double base rates.
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Source: SP Global
