As the Lira remains weak, the volatile Turkish market remains a challenging landscape for importers and exporters to manoeuvre. Market changes have caused a significant boost to Turkish exports as their goods reduce in price to European buyers, however import volumes are under constant pressure.
The overall effect of this has been a significant shortage of empty equipment in Turkey. This is leading to delays for Turkish exporters as they cannot source equipment and carriers are now introducing surcharges for positioning empty equipment into this market.
MSC and CMA have both introduced a surcharge and at this stage we would assume others will follow. Currently no-one knows how long this situation will continue however although 2019 rate renewals are a few months away the current difficulties should be considered as a potential cause of rate increases.