Large carriers observed a decline in the spot market possibly driven by the strength in contract rates. Over time, both markets can be expected to present inequalities. Nonetheless, factors like cost inflation, drivers operating under their own authority, and other constraints could create a niche for spot rates. As COVID lockdowns are lifted, China resumes shipping activities, and goods start flowing, strong demands are likely to be seen as we hit the summer months.

-Lilian Nash, Carrier Relations Specialist

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