Posted on June 10, 2012

Shipping lines are being forced to reduce freight rates, even though they made an agreement at the beginning of this year to impose increases.

The first quarter of this year was particularly difficult for the maritime container shipping industry. The market was shaped by persistent overcapacity and freight rates fell to new lows during the period. Oil prices increased sharply until mid-March, with Rotterdam bunker prices rising to nearly $720 per ton.

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