Great article today in Lloyd's List concerning shippers who are not signing contracts with some ocean carriers in fear that the carriers may not survive the economic pandemic. Janet Porter, the author cites as an example Nestle:
Nestle’s head of global ocean transport Brett Whitfield said today that the food and beverage group was excluding certain carriers from its tender process and diversifying the number of container lines used overall in order to lessen exposure to service closures by financially weakened operators.
It will be interesting to see how this behavior continues and its impact on the transpacific contracting season.
