Record TPM opens as ‘difficult’ transpacific contract negotiations get underway

The fortunes of the container market will become clearer this week as close to 4,000 delegates descend on Long Beach for the 24th edition of TPM, the sector’s top annual event.

The summit, which runs from Sunday to Wednesday, brings together lines and shippers to hammer out contracts and comes at a time where container shipping fortunes are slipping from their recent Red Sea-induced highs. 

The Shanghai Containerized Freight Index (SCFI) dropped 6.2% on Friday, its biggest weekly decline since freight rates began to surge in December. 

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