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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

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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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