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SHIPPING WOES

Interest in long-term sea freight contracts likely to last throughout 2022

Businesses forced to secure longer contracts to hedge against volatility as spot rates continue to break barriers amid shortages, delays

Mindy Tan

Mindy Tan

Published Sun, Feb 13, 2022 · 09:50 PM

    Singapore

    COVID-19 is forcing businesses to look to long-term freight contracts as a means to hedge against price volatility and space constraints, and the trend is here to stay, at least throughout 2022.

    A Fedex spokesperson noted that "given the volatile conditions, we have seen a desire from beneficial cargo owners to return to long-term pricing."

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