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Is loyalty in shipping starting to wane the longer the pandemic continues?

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Do you see a more cut-throat mentality in our industry right now? – are customers assertive, aggressive, and unfair at times? As a follow up to the original loyalty in shipping question, tell us what you really think?

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Charterer: I would say there is still a degree of loyalty, but it is definitely still price-driven. there is a much higher expectation of performance while not wanting to compensate for said performance.

I don't necessarily think this is an issue caused by the pandemic, but maybe exacerbated by same.

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Business Owner: Not sure of the current situation, however loyalty only goes so far as it is rarely the only two parties applying the pressure. Market indicators are hard to hide and eventually customers will put pressure on and it will flow down to everyone. Loyalty is often shown in other areas of value, like making a ship available or first refusal, overtime for fast turn around. But if it is only regarding price it is hard for anyone to pay more if the whole market is paying less, no matter how loyal they are as they have to be loyal to their own company too.

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S&P Broker: Loyalty comes at a price, and when you stop giving your customers a reason to be loyal, you cannot expect them to sacrifice their business to help yours.

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