![]() ![]() The one bright spot for carriers remains the transatlantic, where lines continue to enjoy short-term rates of between $6,500 and $7,600 per 40ft from North Europe to the US east coast, according to the spot rate indices. “The demand and volume was not there, so we had to deal with a new reality and engage with our customers,” said CFO Xavier Destriau.Īccording to the latest reading of Xeneta’s XSI spot index, its US west coast component was flat this week, at $1,941 per 40ft, having declined by 20% so far this month, while east coast rates were down 6% on the week, according to Drewry’s WCI, at $5,045 per 40ft. Indeed, Israeli carrier Zim told The Loadstar this week it had been obliged to agree pricing reductions with transpacific contracted customers to protect its business. Meanwhile, on the transpacific, short-term rates from China to the US west coast are sinking to sub-economic levels, dragging down long-term rates as carriers are forced to offer customers temporary reductions on contract rates. He continued: “This is all reflected in the number of hauliers contacting us asking for work – again, emails every day saying they have capacity from all ports.” He said he was hearing that carriers were blanking sailings right up to Chinese New Year, which falls on 21 January, to drive up rates, but, he added, “personally, I don’t think that the volume is there”. As a country, we are not buying like we used to during the pandemic.” Today, I had $1,800 into Southampton, which is crazy it seems to be panic,” he said. “There hasn’t been a Christmas rush on westbound and I put that down to the recession. “I am getting approximately 10 emails a day from random agents offering very low rates. “The westbound market seems like it’s in panic,” a UK-based forwarding executive told The Loadstar this week. The speed of the rate erosion on the Asia-North Europe tradelane is making a mockery of the spot market indices, which have been unable to keep pace for instance, the lowest reading this week is Drewry’s WCI, which recorded a 14% decline, to $2,687 per 40ft, for its North Europe component. It'll be a long road, but definitely worth it in the end.Ocean carriers are said to be in “panic mode” as bookings from China to North Europe and the US west coast tank, causing FAK rates to plunge to new depths.ĭespite aggressive blanking that has reduced weekly capacity on the tradelanes by more than a third, the lines have failed to slow the precipitous fall in short-term rates and, are arguably fuelling the fire by offering sub-economic spot rates via their digital platforms.įor example, rates from Shanghai, Tianjin and Shenzhen to the Le Havre-Hamburg range of container hubs in North Europe, of $1,000 per 20ft and $1,800 per 40ft are now widely available for prompt shipment.Īnd some carriers are said to be prepared to reduce rates further for volume, and relax or even waive demurrage and detention conditions. It'll just make your fear and panic worse in the long run. Whatever you do, don't avoid situations that provoke this response. This would happen in other performance situations as well. It has everything to do with what's inside your head and what's inside your head only. Probably the best way to do this in a low stakes manner is to join an organization like Toastmasters - someplace where you have to present in front of others on a regular basis but won't get fired if you fuck up.ĭon't listen to other people that say "maybe this means finance just isn't for you." It has nothing to do with finance. Practice speaking in pressure situations. There are a variety of ways to do this, but all involve some means of finding a quiet place, breathing deeply, and clearing your mind. Realize this is a result of you wanting to meet others' expectations and your ideal of yourself. ![]() Unfortunately, this isn't good if you need to walk through a DCF, calculate 27 x 56, or just talk about your deal experience in an interview. Basically your body is getting you ready to run away from something really scary. The sequence from their is the following: (i) your heart rate increases, (ii) your breath quickens (often you will feel like you can't breathe), (iii) you get tunnel vision, (iv) you lose higher order cognitive functioning, (v) you lose fine motor skills. The underlying reasons for this are numerous, but it basically boils down to you generating fear provoking thoughts that your brain interprets as life and death type issues, which kick starts your fight or flight response. ![]() The higher the stakes, the worse the anxiety. Any time you have to perform anything - interviewing, presenting, playing sports - in front of someone else, you get an acute case of anxiety. What you are dealing with is "stage fright" or "performance anxiety." I've had similar issues in the past. ![]()
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