China reopens after Chinese New Year, Container rates plateau
- Roughly one third of companies surveyed ‘reducing suppliers’ this year, 63% aiming to diversify suppliers in response to the continued geopolitical risks
- Following Chinese New Year, container prices have plateaued but remain elevated since the onset of Houthi attacks in November 2023.
- Liners see gains from tighter capacity and increased demand as they head into the contract negotiation season in March-April 2024.
Geopolitical risks are impacting the supplier strategy of many companies globally.
