Alan Murphy, CEO of Sea-Intelligence Maritime Consulting has said it is necessary to radically revise carrier profitability. Other have said that, despite significant loss of box volume due to the pandemic, spot rates have soared above year-over-year levels. The ability of carrier to lose 15 to 20 per cent of container volumes while at the same time increasing rates has surprised a sector more used to witnessing rate wars in times of market distress. Clearly it is necessary to watch this matter closely.