In the wake of Hanjin's unravelling the tables seem have suddenly turned in favor of the remaining Carriers, at least short-term.
Aside from the imminent head-ache to release containers currently blocked in the Hanjin pipe-line. Shippers will need to scramble to replace/ substitute that goods. Not only will it give rise to a peak in regular containers booking, but it will spill over into alternative modes like container rail (Asia-Europe) and for unlucky Shippers, to costly air shipments.
There are several Shippers that will be struggling in this new reality. Some more than others;
Shippers who had big volumes contracted to Hanjin. They will immediately need to secure other solutions. It will be costly, but for every day they wait it will be even more costly as goods are shipped on the spot market and available contract capacity is taken by others. Speed to renegotiate is of the essence for this category.
Shippers who have a track-record of being aggressive negotiators with unreasonable requirements. Up to now, these big volume Shippers have gotten away with it. But, in the new reality this may no longer be the case. For sure, additional booking will be very hard to secure at the contracted rates. New contract in the next 6 months will be a brutal awakening for this category of Shippers.
Shippers who have a track-record of not honoring the contracted volume. Regardless if the rates are good or not, just the risk of empty slots will prompt the Carrier to eject these Shippers in favor of others with better compliance.
Shippers will need to quickly rethink their containers shipping strategies. Regardless, it will mean going to market to negotiate new agreements and fast! This is no time to hang on to old RFQ processes that run for 4-6 months, this is the time to grab the Cloud-technology with both hands to accelerate the bid collection, validation and analysis. Until you have the new agreements in place, you need to take care of the ongoing bookings in an organized way. Manually, that will be a nightmare. Also, here the answer is in the Cloud.