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<<With container spot rates plummeting and contract rates weakening in their wake, ocean carriers, having essentially no control over pricing, are intensifying their efforts to uncover cost savings. That’s why improving productivity at the berth, which allows lines to maximize slow-steaming while remaining on schedule, is taking on a higher priority.

<<Container vessels used to be built for a life at sea of 25 years, sometimes longer. Today, carriers are scrapping ships less than 10 years old. Freight rates used to change with 30 or 90 days’ notice, and service contract rates were good for a year. Now you have a nonstop negotiating period, and rates change weekly in major trades. Constant change is the new norm, and the speed of change is accelerating.

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