The peak season of the year also saw the greatest volatility of the year. Following the steady freight rate development on the Far East to Europe route up until September, BIMCO was blind-sided when trying to forecast a continuance of that trend. We believed the industry was not going to imitate the freight rate development of last year, as it was following such a tight line until then, matching supply with demand. At the same time, almost all of the fleet that was standing idle was re-activated, which was quite an achievement. However, the fairy tale has paused for a while at least. Since September, rates have gone down an all too familiar road.
Source: BIMCO. See link here (12/12/2014)
Picture: INCOTRANS® – International Business Advisors ©
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