World’s major shippers start establishing their own container lines amid further growth of freight rates, according to Xeneta.
The German retailer Lidl has chartered three Panamax containerships to operate its own shipping line, Tailwind Shipping.
“As such, this is a really bold move by Lidl. Time will tell if it’s a success, potentially penning a blueprint for others to follow as they look to free themselves from the grip of all-powerful carriers”, comments Xeneta CEO Patrik Berglund.
According to Xeneta, April saw the third consecutive monthly climb in long-term contracted ocean freight rates, with shipping costs rocketing by 11.1% globally to stand 109.9% up year-on-year.
Container line take advantage of the situation to impose their conditions.