Now is not the right time for shippers to fix their container rates to avoid any potential increases when global trade patterns are realigned, advises Philip Damas, Drewry managing director, head of supply chain advisors.Speaking at a Drewry briefing, he said: “We expect further reductions in rates. There is also the possibility that the Suez Canal will reopen at some point. “So, I think it’s important if you negotiate a year-long agreement to have a review clause, so that if the market changes by a given percentage, you are entitled to request a renegotiation of rates.“Fixing now, as the market is about to fall, is definitely not the right approach.” ER
