ocean freight shipping

P3 Network Alliance is Over

For almost a year now, the ocean freight shipping industry was abuzz about the proposed P3 Network Alliance between Moeller-Maersk, MSC and CMA CGM. The objective of the P3 Network was to combine their resources to reduce expenses for certain shipping routes. This might impact ocean freight rates.

Global Economy and Shipping

The global economy depends heavily on international trade, most of which is conducted with the freight shipping of cargo by air or sea. Just as the economy depends on ocean freight shipping, the shipping industry also depends on the global economy to improve. For example, if the economy is harsh, shippers might see some ocean freight rates increase. Usually, as the economy improves, freight volumes also increase.

Which Factors Impact Ocean Freight Rates?

Shippers who normally receive ocean freight rates for different destinations might notice that the prices might be different throughout the year. There are numerous factors that impact the shipping rates for ocean containers. Here are four of them:

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