For the ocean shipping business today, it’s tough enough navigating the rough waters caused by economic cycles. But do carriers sometimes make their own waves?
The volatility of global spot freight rates since the start of 2015 has continued to increase in comparison to 2014, according to rate assessments on 11 routes gathered by the World Container Index (WCI). Price turbulence on the globally important Asia-to-Europe routes has been particularly high in 2015 with monthly volatility increasing 43 percent on average in comparison to 2014.
As Ebola persists in West Africa, shipping lines and traders are tweaking their contracts to protect themselves if the disease puts crews at risk of infection or prevents vessels calling at affected ports.