Rarely have container shipping lines played for such high stakes as they are right now. Not only are they attempting to pass on higher IMO 2020 low sulfur fuel bills, they are also in the final stages of agreeing to Asia-Europe annual contracts for next year.

Their success in negotiating both with shippers will go a long way toward deciding industry profitability next year, not least because Asia-Europe contract settlements will also set the stage for trans-Pacific liner-shipper contract negotiations in the second quarter of 2020…