News
- MSC boss blames shippers for rising rate
- 3/9/2010
MSC boss blames shippers for rising rates
Damian Brett | Tue, 9 Mar 2010
Price instablity created by abolition of conferences
MSC’s CEO has blamed the container shipping crisis and pricing instability in the sector on shippers.Gianluigi Aponte told the Financial Times that shippers had taken advantage of industry overcapacity to get cheaper prices.
Aponte said: “Shippers are not that deep -- they worry always who will ship for $50 less. The shippers are concerned solely by the price.”
He also said shippers had created price instability by lobbying to have shipping line conferences abolished in 2007.
“Shippers’ insistence on eliminating the conference will create a lot of instability for the European and worldwide economy.
“We have multiplied by five the rate in the space of one year. If the situation continues, maybe the rate can even double again.”
Aponte also predicted that in 2010, shipping lines would recover the losses they had made last year.
From IFW